May 13, 2023
New Delhi, India
Sensex Recovers Over 900 Points, Ends Higher Amidst Volatility
Despite a volatile trading session, Indian benchmark indices managed to end on a positive note. The Sensex rebounded over 900 points from the day’s low to close 112 points higher. Meanwhile, Nifty maintained its position above the 22,100 mark, displaying resilience amidst market fluctuations.
Both the indices Sensex and Nifty closed at 72,776.13 up +111.66
Tata Motors and RIL Weigh on Indices
Losses in Tata Motors and RIL exerted downward pressure on the indices, with Nifty slipping below the 22,000 mark earlier in the day. The auto index emerged as the top sectoral loser, declining by 2%, contributing to the overall market volatility.
Sectoral Performance
- Nifty Pharma emerged as the top sectoral gainer, surging by 1.8%, followed by Nifty Metal and Realty, both up by 1.3%.
- Nifty Bank rose by 0.7%, while Nifty IT gained by 0.4%.
- On the downside, Nifty Auto dropped by 1.68%, followed by Nifty PSU Bank and Oil & Gas, down by 1.2% and 0.8% respectively.
Conclusion
Despite initial turbulence, the Indian stock market exhibited resilience, with benchmark indices recovering from intraday lows to close higher. While certain sectors faced pressure, others witnessed notable gains, reflecting the dynamic nature of the market. As investors navigate through volatility, monitoring sectoral trends and company-specific developments remains crucial for informed decision-making in the ever-changing market landscape.
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