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Market makes sharp recovery led by HDFC twins, RIL; IT stocks cap gains

Market makes sharp recovery led by HDFC twins, RIL; IT stocks cap gains

Market makes sharp recovery led by HDFC twins, RIL; IT stocks cap gains
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By Ajay Vaishnav  Dec 26, 2018 3:47:48 PM IST (Updated)

The Sensex and Nifty ended with gains of more than half a percent after opening in the red and trading lower for the large part of the day. The Sensex gained nearly 180 points, or 0.51 percent, to settle at 35,650, while the Nifty was up by 66 points, or 0.62 percent, to 10,730. The MidCap index ended in the red although the index recovered around 350 points from the day's lows, while Bank Nifty surged over a percent. IT heavyweight stocks TCS and Infosys dragged indexes, while HDFC twins and Reliance Industries supported.

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(Market update at close)
Market makes sharp recovery led by HDFC twins; Yes Bank among top losers
Indian shares recovered sharply on Wednesday afternoon led largely by HDFC Bank, HDFC, L&T, ITC, ICICI Bank, Axis Bank, HUL and others, while TCS, Infosys, and IndusInd Bank capped gains. The Sensex surged nearly 58 points, or 0.16 percent, to trade at 35,528 at 1.55 pm, while the Nifty was just below 10,700, trading at 10,693, up by 30 points, or 0.28 percent. Midcaps continued to underperform with the Nifty MidCap down by 0.08 percent.
(Market update as of 2 pm)
Market trades sharply lower, Sensex dips over 200 points; Yes Bank among top losers
The Indian market traded sharply lower on Wednesday noon, dragged by sustained selling across most sectors as investors turned jittery over political uncertainties in the US, global slowdown concerns. The Sensex was trading at 35,242 around noon, plunging nearly 227 points, while the Nifty traded at 10603, down by 59 points.
Broader markets fell sharply with the Nifty MidCap trading lower by 1.15 percent and the BSE MidCap slipping over a percent.
Only Nifty Media and BSE Consumer Durables advanced among 43 sectoral indexes. BSE Realty dipped the most among 41 declining sectors, falling by 1.63 percent. Nifty PSU Banks declined 1.55 percent, while Bank Nifty was down by 0.85 percent.
Zee Entertainment stocks surged 3 percent, while Titan, Adani Ports, Asian Paints, UPL, ITC and Axis Bank gained by up to 1.5 percent.
Yes Bank was among the top index losers, falling by 3.35 percent, while IndusInd Bank also slipped more than 2.5 percent. Indiabulls Housing Finance fell 1.81 percent, Sun Pharma over 2 percent. Tata Motors and Reliance Industries declined between 1.5 and 2 percent.
In currency market, the rupee traded at 70.01 against the US dollar at noon. The home currency opened 21 paise higher at 69.93, up 36 paise from its Monday's close of 70.14 against the greenback.
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