Buying support pushes equities higher; oil stocks rise
Accordingly, both key indices -- S&P BSE Sensex and NSE Nifty50 -- rose a day after a sell-off which was triggered due to weak Asian cues. As per market observers, the up moves comes on the back of healthy buying support for Realty, Oil & gas, IT and FMCG stocks. Sector wise, Auto, Consumer Durables and Utilities indices traded lower.
Sensex slumps as banking, metal stocks plunge
The domestic market declined in line with the Asian stocks over concerns of rising cases of Delta variant of Covid-19 and its impact on the global economic recovery. The selloff was led by banking and metal stocks. The BSE Sensex fell as much as 615 points to touch an intraday low of 55,013.98 points. It has, however, recovered from the lows.
Sensex up 200 points; IT, metal stocks rise
Healthy buying was witnessed in metal and IT stocks. Rise in the index heavyweights Reliance Industries and HDFC Bank supported the Sensex. Around 10.10 a.m., Sensex was trading at 52,661.58, higher by 217.87 points or 0.42 per cent from its previous close of 52,443.71.
Equity indices in red, metal stocks fall
Heavy selling was witnessed in metal and power stocks. Around 10.10 a.m., Sensex was trading at 52,645.30, lower by 127.75 points or 0.24 per cent from its previous close of 52,773.05. It opened at 52,782.21 and has so far touched an intra-day high of 52,816.31 and a low of 52,607.61 points. The Nifty50 on the National Stock Exchange was trading at 15,820.25, lower by 49.00 points or 0.31 per cent from its previous close.