Nifty Erases Losses, Sensex Adds 180 Pts, India VIX Sheds 6%

  • Stock Market News
Nifty Erases Losses, Sensex Adds 180 Pts, India VIX Sheds 6%
Credit: © Reuters.

By Malvika Gurung -- Indian equity benchmark indices made a negative opening on Thursday following global cues after Fed Chair Jerome Powell’s commitment to rein in sticky inflation as well as Treasury Secretary Janet Yellen’s comments which rattled the US market overnight.

However, the domestic benchmarks recouped morning losses and gained later in the day, with Nifty50 up 0.3% to 17,203.3 points and Sensex adding 178.25 points or 0.31% while writing.

The market fear barometer India VIX shed 6% to 13.97 levels.

Gains across Dalal Street were led by FMCG, financial and banking stocks, while IT stocks slumped ahead of Accenture’s Q2 earnings.

Most sectoral indices under the Nifty umbrella traded with gains, led by Nifty Private Bank and Nifty Financial Services , while Nifty IT slid 0.5%. Nifty Bank rose 0.4%.

On the Nifty pack, heavyweights HDFC Life Insurance (NS: HDFL ), Nestle (NS: NEST ) India, Tata Motors (NS: TAMO ), Maruti Suzuki (NS: MRTI ), Hindalco (NS: HALC ) and IndusInd Bank (NS: INBK ) were among the top gainers, while Asian Paints (NS: ASPN ), HCL Tech (NS: HCLT ), Infosys (NS: INFY ) and Bajaj Auto (NS: BAJA ) exerted pressure.

Key US contracts Dow Futures advanced 0.55% and Nasdaq 100 Futures climbed sharply by 0.9%, while Nifty 50 Futures is up 0.34%.

Read Also: INR Strengthens Against USD, Dollar Index Slides; March USD/INR Levels?

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