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Benchmark indices were trading higher during the afternoon on Thursday, led by metals and IT.
After three consecutive days of losses, the market recovered on Thursday ahead of the monthly F&O expiry amid positive global cues. Asian stocks, after continuous sell-off amid recent tension in Chinese tech stocks, managed to bounce back as the U.S. Federal Reserve maintained the status quo on policy rates and signalled that it was in no rush to taper stimulus, impacting investor sentiments in the domestic market.
At 1 pm, the BSE Sensex was ruling at 52,713.43, up 269.72 points or 0.51 per cent. It hit an intraday high of 52,740.66 and a low of 52,561.39. The Nifty 50 was trading at 15,802.00, up 92.60 points or 0.59 per cent. It hit an intraday high of 15,804.15 and a low of 15,737.80.
Hindalco, Tata Steel, JSW Steel, Bajaj Finserv and Tata Motors were the top gainers on the Nifty 50, while Maruti, PowerGrid, Nestle India, Coal India and Eicher Motors were the top laggards.
New retail investors, welcome on board
Tatva Pharma Chem gains over 100%
Tatva Pharma Chem made a stellar debut on the stock market with a listing of 95 per cent gains on the BSE at ₹2,111.80 as against the issue price of ₹1,082.
At 1 pm, the stock was trading with over 110 per cent gains at ₹2277.80, up ₹1194.80 from its issue price on the BSE.
Metals shine
On the sectoral front, all indices except Nifty Auto and Nifty FMCG were in the green. Metals led the rally. The IT and Realty also gained.
Nifty Metal was up 4.88 per cent. Nifty IT was up 1.08 per cent, while Nifty Realty was up 1.65 per cent.
Meanwhile, Nifty Auto was down 0.18 per cent while Nifty FMCG was down 0.68 per cent.
Will FIIs return to Indian Markets after the recent lull?
Broader indices recover
Broader indices also rebounded sharply, with Nifty Midcap 50 up 0.97 per cent and Nifty Smallcap 50 up 0.41 per cent. The S&P BSE Midcap was up 0.24 per cent, while the S&P BSE Smallcap was up 0.85 per cent.
The volatility index fell 5.11 per cent to 12.99.
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