Markets Recover Sharply After Three Days Fall

Benchmark indices gained its upward momentum in the final trading hours on Wednesday, led by the gains in OMCs and banking stocks.

The Sensex index of the BSE gained 489 points at 39,054 levels. The NSE Nifty50 traded 150 points higher at 11,726 levels.

UltraTech Cement, BPCL, HCLTech, IndusInd Bank and ONGC were the top gainers on the NSE.  On the contrary, Tata Motors, Hero MotoCorp, Maruti, Suzuki Coal India, and Cipla were the top losers.

All sectoral indices on the NSE, except the Nifty Auto, ended in the green.  The Nifty auto declined 0.42 with major loss in Tata Motors (down 3.19%), followed by MRF (-1.44%) and Apollo Tyre, down 1.30%.

The Nifty PSU Bank index gained 1.54-pc followed by Nifty Media, IT and Financial Services, which gained over 1-pc each.

Among OMC stocks, shares of BPCL closed at Rs12.60 a share at the level of Rs349.00. ONGC’s stock closed Rs.4.60 higher at Rs168.35, IOC’s closed Rs4.15 higher at the level of Rs153.55 and HPCL closed Rs.15.40 higher at the level of 270.25 on the NSE.