Sensex Rebounds, Ends 230 Pts Higher

Buying interest in Banks, Financials, and Realty stocks lent strong support for the markets to recover their early trade losses. The equity benchmarks turned mainly positive in the closing deals, the BSE Sensex added 230.01 points to close at 52,574.46, and the Nifty-50 ended the session at 15,746.50, up by 63.15 points.

In the 30-share pack Sensex, 22 scrips ended the day with gains, while only 8 scrips ended in the red. Shares of NTPC bagged the top gainer of the index as they gained five per cent after the company posted a three-fold profit in their Q4 earnings. Titan Company, SBI, IndusInd Bank, and Ultratech Cement also gained over a per cent each.

Except for IT and Auto, all other sectors ended the day in green and led Sensex to rebound 834 points from the day's low occurred in the morning trade on Monday, June 21. The PSU Bank sector surged the most with Central Bank and JK Bank adding 20 per cent each. Shares of Central Bank surged in the afternoon deals after a media report suggested that the centre has finalized IOB and CBI for the divestment plan.

The realty sector also witnessed green shoots as the economy begins to open up amid a faster pace of vaccination coupled with a decline in daily COVID-19 cases in the country. The Nifty Realty index gained over two per cent backed by shares of Sunteck Realty (+4.86 per cent), Indiabulls Realty(+4.44 per cent), and Mahindra Life(+4.28 per cent).

However, UPL and Wipro ended among the top losers of the index on Monday as they shed over four and one per cent, respectively.

In the overall market breadth, 2049 shares advanced, 1257 shares declined, and 157 shares remained unchanged.

Ruchit Purohit

BW Reporters The author is a Trainee Journalist at BW Businessworld based in Mumbai. He tracks the Markets and related news.