Benchmark Indices fell but smartly recovered during the day although not fully, ultimately emerging in the Red at the close of the day.
Bank and financials were under pressure but Metals and Telecom were in reasonably good demand.
Chinese firm step on Tech firms and investors cautious wait towards Fed meeting outcome were the two factors which applied brakes in the domestic market. However, broader markets witnessed buying in sectors like Paper, Steel and Textiles, experts said.
The 30-share pack Sensex fell 135.05 points or 0.26 per cent to close at 52,443.71. The index rose 640 points from the lows. Its broader peer NSE Nifty fell 37.05 points or 0.24 per cent to 15,709.40.
Market Highlights :
— Indigo takes a drubbing after posting larger than expected loss
—BLS International rises 11 per cent after excellent Q1 results
— Bharati Airtel moves ahead as it increases tariff prepaid customers
— The Barometer of Volatility, India VIX, rises another 3.5 per cent.
— Glenmark Life IPO subscribed 3.5x and Rolex Rings 3x
Among the top companies, Bharati Airtel was the biggest gainer, rising 5.07 per cent. The other profitors were Tata Steel, SBI Life Insurance, Divi’s Labs, IndusInd Bank, JSW Steel, ICICI Bank and Bajaj Finserv.
Broader market indices ended lower underperforming their headline peers. Nifty smallcap fell 0.50 per cent and Nifty Midcap came down 0.50 per cent. Nifty 500, the broadest index on NSE, closed down 0.23 per cent.
Market breadth was in favour of losers as 1414 stocks closed in the green while 1791 others settled with cuts. A total of 425 securities hit the 52-week highs, mostly from smallcap space.
Fifteen names hit the 52-week lows, mostly from microchip space. A total of 435 stocks hit the upper circuit limits and 245 lower circuit limits.
