Sensex Recovers 55 Pts From Day's Low; Smallcaps And Midcaps Outperform

The Indian equity markets staged minimal recovery in the ending session after trading through the sidelines for most of the day on Thursday, September 9. At close, the BSE Sensex closed up by 55 points at 58,305.07, while the Nifty ended with a gain of 16 points at 17,369.25.

In the 30-share pack Sensex, 17 stocks ended higher led by buying interest, while 13 counters ended in the red. Shares of Bharti Airtel and Nestle were the top index gainers, adding over two per cent each, while Tata Steel, Bajaj Finserv, and HCL Tech jumped over a per cent each. However, on the counter part, HDFC Bank, Titan Company, UltraTech Cement, and Bajaj Auto were the top losers in the pack, declining about a per cent each.

Amid volatility seen across the board, the Smallcaps and Midcaps continued to perform good for the second straight session. The BSE Midcap and Smallcap indices gained about 150 points each in the day's trade as investors booked some profits from largecaps and moved into small and midcaps, experts said. Shares of Future Retail were the top newsmaker as the stock jumped more than nine per cent and made a day high of Rs 50.50 in the Midcap space. Adani Green Energy, JSW Energy, and Adani Power were other top Midcap gainers, advancing nearly five per cent each.

Among the sectors, the Banking, Financial and Pharma names saw selling throughout the session, while FMCG, Metal and IT stocks saw good buying interest. The Nifty Metal index rose close to one per cent led by shares of Welspun Corp(+5.58 per cent), APL Apollo(+2.16 per cent), and SAIL(+1.83 per cent).

In the overall market performance on Thursday, 975 shares advanced and 805 shares declined in the NSE.

Note: The markets in India will be shut tomorrow (September 10) on account of Ganesh Chaturthi.