Indian stock markets recover in the last 2 hours

13 May 2024 , 03:55 PM

In Monday’s intraday trading session, Indian stock markets exhibited a notable rebound driven by bargain hunting in key stocks such as Asian Paints, HDFC Bank, ICICI Bank, TCS, and Axis Bank.

Despite a significant intraday plunge of 798 points to a low of 71,866, the S&P BSE Sensex managed to recover and closed at 72,776, marking a gain of 112 points or 0.15%. Similarly, the NSE Nifty50 index recovered from its intraday low of 21,821 and concluded the session at 22,104, up by 49 points or 0.22%.

However, the market’s upside was curbed by losses witnessed in Tata Motors (down 8%), NTPC, Bharti Airtel, SBI, Titan, and Nestle India.

In the broader market scenario, the BSE MidCap index witnessed a modest gain of 0.36%, while the BSE SmallCap index experienced a marginal decline of 0.23%. Both indices had initially plummeted by 1.5% each during the trading session.

Sector-wise, the Nifty Auto and PSU Bank indices endured declines of over 1% each. Conversely, the Nifty Pharma sector stood out with a notable rise of 1.77%, reflecting sector-specific optimism amidst the broader market fluctuations.