Equity benchmark mark Nifty rebounded 20%, supported by gains in shares of Nifty Bank, including Pvt Bank and Fin Service along with shares in Fast Moving Consumer Goods (FMCG) as Part of market rise.
During the mid-session market, the Sensex traded at 37784.35, up by 111 points whereas the Nifty rose 16 points to 11,191.50. The index earlier touched at an intraday maximum level, over 200 points higher, and the Nifty crossed over 40 points.
The breadth of the market, showing the overall health of the market, was almost even. Currently, on the NSE Nifty50 index, 20 stocks rose and 30 stocks declined.
The rate-sensitive sectors are falling except for Bank Nifty and Private Bank. The banking, automobiles and Realty are commonly known as rate-sensitive stocks in which the Auto index trade 1% lower at showing LTP at 7,326-level. Ashok Leyland, M&M, TVS Motors and Apollo types were major losers on the index. The PSU Bank index also fall 1% at 2,149.35, led by Syndicate Bank, Bank of Baroda and Oriental Bank of Commerce (OBC). Get best stock Tips from the experts.
Bank Nifty rose 1.36%, Financial service rose 1.24%, Private bank advanced 1.33% and FMCG stocks also added 0.26% rise in the market strength today.
At 11:50 hours, Yes Bank, Britannia, HDFC Bank, ICICI Bank Bank Kotak Bank were among the top contributors to the gains in the Nifty and Sensex index.
In comparison, the Nifty Stood at 11186.70, up 11% and the Sensex scaled at 37765-level, up by 24%. For stock market updates visit our website.