Sensex, Nifty 50 end lower but recover as banks support late rebound after IT-led selloff
1 week, 2 days ago

Sensex, Nifty 50 end lower but recover as banks support late rebound after IT-led selloff

Live Mint  

Stock market today: Indian markets witnessed sharp fluctuation in today's trading session, March 12, as weak global cues and escalating trade tensions, coupled with downgrades on IT stocks, led frontline indices to swing back and forth in trade. The strong gains in banking stocks lent support to the market recovery during the second half of the trading session, causing Nifty 50 to recover 141 points, or 0.63%, from the day's low to end the session at 22,470 points, 0.12% lower than the previous close, while the Sensex ended the session with a mild cut of 0.10% at 74,030 points, recovering 431 points, or 0.58%, from the day's low. The broader market also bounced back from the day's low but underperformed the benchmark indices, with the Nifty Midcap 100 index concluding the session with a cut of 0.57% at 48,486 points, while the Nifty Smallcap 100 index ended the session at 15,044 points, 0.21% lower compared to Tuesday's closing price. Sectoral Performance: IT stocks extend losses; banks make a strong recovery Indian IT stocks extended their losing streak for the fourth consecutive trading session today, sending the Nifty IT index tumbling another 2.91%.

History of this topic

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