Sensex, Nifty recover losses amid buying in pharma, energy stocks; Bajaj twins, RIL lifts sentiments

The market performance also comes after FM Nirmala Sitharaman announced 12 key measures, as part of Government of India’s stimulus to the economy, under AatmaNirbhar Bharat 3.0.

Nov 13, 2020 06:11 IST India Infoline News Service

The Indian stock market has recovered from early losses with investors carrying huge buying sentiment in heavyweight stocks like Reliance Industries, Titan and Bajaj Finserv. Energy and realty stocks were among top performers.

In the early trading session, Sensex dipped by over 300 pts and Nifty 50 below 90 points.

However, at around 11.21 am, the performance in the benchmarks was broadly on a flat note. Sensex trading at 43,366.69  up 0.02% and Nifty 50 was at 12,696.10 up 0.04%.

BSE Energy surged by 1.82% trading at 5,980.89 led by a massive bullish tone in RIL. Meanwhile, BSE Realty rose by 0.69% at 1,897.15. BSE Healthcare jumped by 0.94% at 19,755.20.

On Sensex, gainers were - Bajaj Finserv (+2.50%), RIL (+1.76), Bajaj Finance (+1.19%), Asian Paint (+1.17%) and Titan (+1.15%).

Underperforming stocks on Sensex were - L&T (-2.14%), SBI (-1.46%), IndusInd Bank (-1.33%), HDFC Bank (-1.11%) and Bharti Airtel (-1.03%).

Amid volatility in domestic equities, the Indian rupee was trading near 74.69 against the greenback at the interbank forex market.

The local currency opened marginally higher at 74.62 against the dollar index compared to the previous closing of 74.65 per dollar.

The market performance also comes after the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman announcement of 12 key measures, as part of Government of India’s stimulus to the economy, under AatmaNirbhar Bharat 3.0.

The FM announced net stimulus of Rs2.65 lakh cr. Sitharaman also said, that the total stimulus announced by the Government and Reserve Bank of India till date, to help the nation tide over the COVID-19 pandemic, works out to Rs29.87 lakh cr, which is 15% of national GDP. Out of this, a stimulus worth 9% of GDP has been provided by the government.

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