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Benchmark indices were trading in the green during the afternoon on Thursday, after recording fresh highs, led by IT stocks.
Market opened on a positive note, tracking global cues, and gained further in the first half. The broader market also recovered sharply after the BSE issued a clarification on its add-on price band framework for BSE exclusive stocks.
At 1 pm, the BSE Sensex which recorded a fresh all-time high of 54,808.14, was ruling at 54,777.06, up 251.13 points or 0.46 per cent. It recorded an intraday low of 54,536.65. The Nifty 50 was ruling at 16,353.15, up 70.90 points or 0.44 per cent after recording a fresh high of 16,363.90. it hit an intraday low of 16,286.90.
Powergrid, Tech Mahindra, Tata Motors, L&T and HCL Tech were the top gainers on the Nifty 50 while Eicher Motors, IndusInd Bank, Dr Reddy, Axis Bank and Divi's Labs were the top laggards.
Smallcaps, midcaps shine
The broader market recovered after the BSE on Wednesday clarified the new additional surveillance rules aimed at curbing excessive price movement. The BSE said that the framework is applicable now only to BSE exclusive securities in groups ‘X, XT, Z, ZP, ZY, Y’ and on companies which have market capitalisation of less than ₹1,000 crore. The clarification also said that the securities should have a price of ₹10 and more, as on the date of review, among others. These additional norms will be applicable from August 23.
The Nifty Midcap 50 was ruling 0.87 per cent higher while the Nifty Smallcap 50 was up 1.78 per cent. The S&P BSE Midcap was up 0.75 per cent while the S&P BSE Smallcap was up 1.71 per cent.
Pharma, healthcare under pressure
On the sectoral front, a majority of indices recovered from previous session's losses to trade in the green.
IT, PSU Bank and realty gained while Pharma, healthcare and consumer durables remained under pressure.
Nifty IT was up 1.39 per cent while Nifty PSU Bank was up 1.31 per cent. Nifty Realty was up 0.97 per cent.
Meanwhile, Nifty Pharma was down 0.94 per cent while Nifty Healthcare Index was down 0.43 per cent. Nifty Consumer Durables was down 0.20 per cent.
The volatility index fell 0.29 per cent to 12.68 .
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