Indian equity market recovered after a volatile trade in nearly first two hours of the trade on Tuesday amid weak global cues and continued sell-off in financial stocks over lingering fears of liquidity crunch. Subdued global cues owing to a fresh round of US-China tariffs and rise in crude oil prices to near four-year highs dampened sentiment.
The BSE Sensex traded at 36,400.68, higher by 95.66 points at 11.45 am, while the NSE Nifty50 hovered a tad below the 11,000 mark at
10,993.50, mildly up by 26.10 points.
Midcaps continued to underperform, trading marginally lower. The Nifty MidCap was trading lower by 0.15 percent, while the BSE MidCap slipped by 0.11 percent.
Sectoral indices on the NSE traded largely green after dipping in early trade. Except Nifty Media, metal and realty, all were in the green zone. Realty dipped the most by 1.72 percent. Nifty Pharma rose 1.92 percent, while Nifty Bank and other bank indices rose by up to 0.26 percent.
Among gainers, Sun Pharma, Yes Bank, Axis Bank rose between 2.3 and 2.6 percent, while IndusInd Bank, Lupin, and Infosys rose by up to 2 percent.
Gail, Vodafone Idea, HPCL, BPCL, Adani Ports, PowerGrid, Bharti Airtel, NTPC, and Coal India fell by up to 4.23 percent.
The Indian rupee recovered a bit after it slipped in the early trade on Tuesday. It traded lower by 16 paise at 72.79 per dollar after opening lower by 26 paise at 72.89 per dollar versus previous close 72.63.
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