Sensex Jumps Over 200 Points Amid Volatile Trade
Domestic stock markets fluctuated between gains and losses in a volatile session on Wednesday. The S&P BSE Sensex index jumped 233.99 points - or 0.60 per cent - from its previous close to touch 39,121.83 during the session in late afternoon deals, having slumped to as low as 38,736.22 earlier. The broader NSE Nifty 50 benchmark moved within a 90-point range, between 11,430.40 and 11,520.45, as against its previous close of 11,470.25. Losses in banking and financial services stocks offset gains in IT, metal and energy shares.
At 2:35 pm, the Sensex traded 176.56 points - or 0.45 per cent - higher at 39,077.36 and the Nifty was up 53.25 points - or 0.46 per cent - at 11,523.50.
Zee Entertainment, Bharti Infratel, Mahindra & Mahindra, Adani Ports and IndusInd Bank, trading between 2.92 per cent and 6.47 per cent higher, rose the most among the 31 gainers in the 50-scrip Nifty basket. On the other hand, Bajaj Auto, Hero MotoCorp, Grasim, Asian Paints and Sun Pharma, trading between 1.36 per cent and 2.75 per cent lower, were the top Nifty losers.
Reliance Industries, HDFC Bank and Infosys were the top boosts to Sensex, contributing more than 170 points to the index.
Official data on Monday showed the country's gross domestic product shrank 23.9 per cent in the June quarter in its worst contraction on record.
Equities elsewhere in Asia registered mild gains. MSCI's broadest index of Asia Pacific shares outside Japan was last seen trading 0.12 per cent higher, while Japan's Nikkei 225 was up 0.47 per cent.
The E-Mini S&P 500 futures were up 0.68 per cent, indicating a positive start for Wall Street on Wednesday.
European shares started Wednesday's session on a strong note, with the United Kingdom's FTSE benchmark index last seen trading 1.74 per cent higher. France's CAC and Germany's DAX indices were up 2.22 per cent and 2.24 per cent respectively.
