The Sensex Recovers Early Losses, Rises 437 Points, Nifty Settles Above 16,600 Points

Sensex Recovers Early Losses

On Thursday, Indian market indexes recovered from early losses to end the day higher, owing to gains in technology and energy firms. Strong buying interest in index heavyweights Tata Consultancy Services (TCS) and Reliance Industries helped the domestic indices stop a two-day losing streak (RIL).

The 30-share BSE Sensex closed at 55,818, up 437 points or 0.79 percent, while the wider NSE Nifty rose 105 points or 0.64 percent to 16,628.

Mid- and small-cap stocks ended the day higher, with the Nifty Midcap 100 up 0.68 percent and small-cap up 0.61 percent.

The National Stock Exchange’s 15 sector indices all ended the day in the green. Nifty IT and Nifty Oil and Gas sub-indices both outpaced the platform, climbing 1.82 percent and 2.28 percent, respectively.

On a stock-by-stock basis, Reliance Industries was the highest Nifty gainer, rising 3.60 percent to 2,728.30. Among the gainers were Bajaj Finserv, Sun Pharma, TCS, and HCL Tech.

On the BSE, the overall market breadth was positive, with 1,976 shares rising and 1,330 falling.

RIL, Bajaj Finserv, Sun Pharma, HCL Tech, TCS, Infosys, Asian Paints, Tata Steel, IndusInd Bank, NTPC, Titan, and Nestle India were among the top gainers on the BSE index of 30 stocks.

HDFC, PowerGrid, Hindustan Unilever, HDFC Bank, Kotak Mahindra Bank, Maruti, ICICI Bank, M&M, L&T, and Tech Mahindra, on the other hand, all ended up in the red.

In addition, the Life Insurance Corporation of India (LIC), the country’s largest insurer and domestic financial investor, declined 0.58 percent to 805.85 rupees.

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