Markets recoup early losses; Sensex up nearly 129 pts intraday and Nifty above 17,100

Benchmark indices were trading marginally higher amid volatility during the afternoon on Monday.

Market opened on a positive note despite mixed global cues but soon slipped into the red during the morning trade. Indices were trading marginally higher during the afternoon, supported by metals, banks and oil & gas stocks. 

At 1 pm, the BSE Sensex was trading at 57,490.96, up 128.76 points or 0.22 per cent, near its intraday high of 57,498.69. It recorded an intraday low of 56,825.09. The Nifty 50 was trading at 17,196.45, up 43.45 points or 0.25 per cent, near its intraday high of 17,199.80. It recorded an intraday low of 17,003.90. 

Coal India, IndusInd Bank, Hindalco, ICICI Bank and Bharti Airtel were the top gainers on the Nifty 50 while Dr Reddy, HDFC, Nestle India, UPL and Adani Ports were the top losers.

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Sensex drops over 130 pts in early trade; Nifty tests 17,000

Nifty may open positive, amid mixed global cues

Consumer durables, IT, pharma drag

On the sectoral front, while banks, metals, auto and oil & gas gained, consumer durables, pharma and IT dragged.

Nifty Bank, Nifty Private Bank and Nifty PSU Bank were up 0.72 per cent, 0.70 per cent and 0.55 per cent, respectively. Nifty Metal was up 0.99 per cent while Nifty Oil & gas was up 0.69 per cent. Nifty Auto was up 0.46 per cent.

Meanwhile, Nifty Consumer Durables was down over 1 per cent. Nifty Pharma and Nifty Healthcare Index were down 0.28 per cent and 0.46 per cent, respectively. Nifty IT was down 0.39 per cent.

Broader indices

Broader market remained under pressure with broader indices trading in the red.

Nifty Midcap 50 was down 0.52 per cent while Nifty Smallcap 50 was down 0.43 per cent. The S&P BSE Midcap was down 0.51 per cent while the S&P BSE Smallcap was down 0.41 per cent.

The volatility index softened 0.55 per cent to 23.30.

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