New Delhi, 25 August (H.S.): Indian equity markets staged a strong recovery in the second half of Tuesday’s trading session after coming under pressure in early trade, with both benchmark indices ending firmly in positive territory. The Sensex gained 0.37 per cent, while the Nifty advanced 0.48 per cent.
The domestic market opened on a weak note and initially witnessed some buying support, which briefly lifted both indices. However, selling pressure soon returned, pushing the benchmarks lower. Around 2 p.m., renewed buying interest helped both indices recover from the red and move into positive territory.
The BSE Sensex opened at 77,295.49, down 73.62 points, or 0.10 per cent. Shortly after the opening, buying support lifted the index by nearly 95 points from its opening level to 77,390.72, putting it in positive territory. The recovery, however, proved short-lived as selling pressure subsequently dragged the index back into the red.
By 10:30 a.m., sustained selling had pulled the Sensex down 243.20 points, or 0.31 per cent, to 77,125.91. The market then remained volatile within a narrow range until around 2 p.m., when buyers returned aggressively and triggered a sharp recovery in the index.
Supported by sustained buying, the Sensex climbed 540.48 points from its intraday low to touch 77,666.39, marking a gain of 297.28 points, or 0.38 per cent. It eventually closed slightly below the day’s high at 77,656.09, up 286.98 points, or 0.37 per cent.
The NSE Nifty also opened lower, declining 43.30 points, or 0.18 per cent, to 24,175.75. Buying activity immediately after the opening briefly improved the index’s movement, but the recovery failed to last as selling pressure returned.
By 10:30 a.m., continued selling had pushed the Nifty down 103.60 points, or 0.43 per cent, to 24,115.45. After trading with modest fluctuations for several hours, the index gained momentum when buyers returned around 2 p.m.
The Nifty subsequently surged 219.10 points from its intraday low and touched 24,334.55, gaining 115.50 points, or 0.48 per cent, to end the session at that level.
IT and pharmaceutical stocks witnessed strong buying throughout the session. Consumer durables, infrastructure, media, automobiles, capital goods, FMCG, metals, oil and gas, and public-sector enterprise stocks also closed higher. In contrast, energy and private banking stocks remained under selling pressure.
The broader market witnessed mixed trading. The Nifty Midcap index closed 0.54 per cent higher, while the Smallcap index ended 0.10 per cent lower.
The market recovery also increased investors’ wealth by more than Rs 20,000 crore. The market capitalisation of BSE-listed companies rose to Rs 493.29 lakh crore (provisional) at the end of Tuesday’s session, compared with Rs 493.07 lakh crore on Monday. This represents an increase of approximately Rs 22,000 crore in investors’ wealth during the day.
A total of 4,525 stocks were actively traded on the BSE. Of these, 2,097 closed with gains, 2,229 ended lower and 199 remained unchanged. On the NSE, 3,095 stocks saw active trading, with 1,414 closing in positive territory and 1,681 ending lower.
Among the 30 Sensex constituents, 24 stocks closed higher and six declined. Of the 50 Nifty constituents, 34 ended in the green, while 16 closed in the red.
Among the major gainers, Adani Enterprises rose 3.72 per cent, Max Healthcare gained 2.57 per cent, Apollo Hospitals advanced 2.15 per cent, InterGlobe Aviation climbed 2.01 per cent and Adani Ports gained 1.83 per cent.
On the other hand, HDFC Life declined 1.13 per cent, Cipla fell 1.11 per cent, ONGC slipped 1.08 per cent, Coal India lost 0.71 per cent and Hindalco Industries dropped 0.70 per cent, making them the top five laggards of the session.
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Hindusthan Samachar / Jun Sarkar
