Wild gyrations seem to be the order of the day. The NSE Nifty swung over 80 points intra-day and managed a positive close. The indices saw a sharp whip-saw in early trade when the Nifty plunged below its 200-DMA. Basket selling may have happened resulting in pressure in banking, auto and realty stocks.
Around 10:25 am, over 8 lakh Nifty futures were traded in a span of three minutes when the market saw some turmoil. Fortunately, the decline was short-lived as indices staged a sharp bounce back led by gains in FMCG, auto, metals, power and consumer durables stocks. Sentiment also got a fillip as the European markets opened with handsome gains.
Finally, BSE Sensex closed at 20,310 up 50 points, while NSE Nifty closed at 6,036 up 14 points over the previous close.
Around 10:25 am, over 8 lakh Nifty futures were traded in a span of three minutes when the market saw some turmoil. Fortunately, the decline was short-lived as indices staged a sharp bounce back led by gains in FMCG, auto, metals, power and consumer durables stocks. Sentiment also got a fillip as the European markets opened with handsome gains.
Finally, BSE Sensex closed at 20,310 up 50 points, while NSE Nifty closed at 6,036 up 14 points over the previous close.
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