Sensex up over 150 points, Bank Nifty sees sharp recovery

Pushed higher by a recovery in midcaps and banking stocks, the market in the afternoon session extended its gains and Nifty was above 9800-mark.

At 13:02 hrs, the Sensex was up 168.13 points at 31617.16, while the Nifty was up 47.70 points at 9841.85. The market breadth was still narrow as 1,459 shares advanced against a decline of 893 shares, while 97 shares were unchanged.

The Nifty Bank, after falling to levels of 23947, staged a bounceback and led to the strong recovery in Kotak Mahindra Bank.
Midcaps staged a recovery from the day’s low points, outperforming the Nifty during the current session. Autos, bank, FMCG, pharmaceuticals, IT and metals gained the most.

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Posted in: Indian Market Tips