Markets recover from previous session’s losses; Sensex adds 500 points

4 Aug 2023 , 01:10 PM

Indian benchmark indices are trading with substantial gains in Friday’s afternoon session, recovering from the steep downfall of previous session. The broader markets continued to outperform their larger counterparts, with mid-caps and small-caps adding more than 1% each.

On the sectoral front, Nifty Pharma stocks are trading 1% higher, led by gains in drug-major Cipla. Heavyweight IT stocks are trading with an uptick of nearly 1.5%. All other sectoral indices are trading with gains.

At around 1.00 PM, BSE Sensex is trading 447 points higher at 65,688. NSE Nifty is trading at 19,510, up by 129 points.

Cipla (+3.61%) is trading as the biggest gainer on nifty pack owing to Blackstone block deal news. IndusInd Bank (+2.96%) is supporting the overall rally with nearly 3% uptick. Tech Mahindra (+2.38%), Wipro (+2.18%), and Coal India (+2.13%) are adding to the broader gains.

Bajaj Auto (-1.58%) and BPCL (-1.18%) are trading nearly 1.5% lower. Sun Pharma (-0.72%), Power Grid (-0.68%), and Bajaj Finserv (-0.48%) are trading under pressure.

A total of 36 stocks advanced, and 14 declined on the nifty index today.