Sensex Recovers 640 Points, End 135 Points Lower

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Sensex Recovers 640 Points, End 135 Points Lower

By Aditya Raghunath -- Data will tell you that Nifty 50 fell 0.24% or 37 points and the BSE Sensex 30 closed lower by 0.26% or 135 points. However, the real story is that both indices staged smart recoveries after falling hard in early trade a day before F&O expiry.

The BSE Sensex hit a low of 51,802 which means it recovered 640 points at close. Nifty Bank closed lower by 0.76%.

Kotak Mahindra Bank Ltd. (NS: KTKM ) and Dr. Reddy’s Laboratories Ltd (NS: REDY ) lost over 2.5% each. Dr Reddy’s will be under pressure and rangebound until there is clarity on its US situation. Tata Motors Ltd (NS: TAMO ), Mahindra and Mahindra Ltd (LON: MAHMq ), and Cipla Ltd. (NS: CIPL ) lost over 2% each.

Bharti Airtel Ltd. (NS: BRTI ) closed up 5.04% after media reports suggested that the government is considering measures to help the debt-laden sector. The company also announced that it discontinued its Rs 49 prepaid plan.

In Asia, Nikkei 225 and the Shanghai Composite ended down 1.39% and 0.58% while KOSPI 50 closed up 0.13%.

US stock markets are set to open mixed later, again taking their lead from China, where the manic selling of Monday and Tuesday slowed as Chinese state media tried to talk down any sense of crisis. As of this report, Dow Jones 30 Futures were down 0.13%, while S&P 500 Futures were up less than 0.1% and Nasdaq 100 Futures were up 0.11%

Crude oil is holding strong over $72 as inventories in the US fell.


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  • Rahul Mandowra @Rahul Mandowra
    Invest smarty lets see downfall in fee days
    Like 2

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