Sensex, Nifty rebound on buying support in IT, power stocks
Dec 27, 2021
Mumbai [India], December 27 : The Indian equities markets witnessed volatile trading on Monday with the benchmark Sensex rebounding 650 points from the day's low on good buying support in IT, power and pharma stocks.
The markets opened deep in the red. The 30 stock S&P Sensex of the Bombay Stock Exchange opened sharply down at 56,948.33 points and slumped to a low of 56,543.08 points in the early morning trade. At 11.30 am the Sensex was trading at 57,147.85 points, 0.04 per cent or 23.54 points higher from its previous session's close at 57,124.31 points. The Sensex touched a high of 57,264.10 points in the intra-day.
The broader Nifty 50 of the National Stock Exchange was trading flat at 17,006.20 points, 0.01 per cent or 2.45 points higher from its previous session's close at 17,003.75 points.
Earlier the Nifty 50 also opened deep in the red at 16,937.75 points and slumped further to 16,833.20 points in the intra-day. Buying support in IT, power and pharma scrips helped the rebound in the index. The Nifty 50 touched a high of 17,037.50 points in the morning trade.
There was good buying support in IT stocks. Tech Mahindra jumped 2.13 per cent to Rs.1760.15. TCS was trading 0.58 per cent higher at Rs.3691.55. HCL Technologies was up 0.43 per cent at Rs.1270.50.
Power Grid Corporation 1.25 per cent higher at Rs.205.80; Dr Reddy's Laboratories 0.86 per cent higher at Rs.4679; Sun Pharma 0.81 per cent higher at Rs.791.65; Mahindra & Mahindra 0.54 per cent higher at Rs.816.85 were among the major Sensex gainers.
Half of the 30 scrips that are part of the Sensex were trading in the red.
IndusInd Bank slumped 3.11 per cent to Rs.833.95. Bajaj Finance 0.84 per cent down at Rs.6793.80; Asian Paints 0.81 per cent down at Rs.3261.40; Wipro 0.50 per cent down at Rs.695; ITC 0.46 per cent down at Rs.217 were among the major Sensex losers.
