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Stock Market Updates: Sensex regains 52,000, Nifty around 15,700

Power Grid and Tech Mahindra were the top gainer in the Sensex pack, advancing over 2 per cent, followed by Indus Ind Bank, NTPC, SBI and Sun Pharma

twitter-logoBusinessToday.In | June 10, 2021 | Updated 09:34 IST
Power Grid and Tech Mahindra were the top gainer in the Sensex pack, advancing over 2 per cent, followed by Indus Ind Bank, NTPC, SBI and Sun Pharma.
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Indian benchmark indices opened higher amid mixed global cues. At 09:21 hours, the 30-share BSE index was trading 113 points or 0.22 per cent higher at 52,055.24, and the broader NSE Nifty was up 44 points or 0.28 per cent to 15,679.35.

Power Grid and Tech Mahindra were the top gainer in the Sensex pack, advancing over 2 per cent, followed by Indus Ind Bank, NTPC, SBI and Sun Pharma.

On the other hand, Bajaj Auto, Asian Paints, Maruti and Axix Bank were among the losers.

Sensex fell 334 points on Wednesday, tracking losses in index heavyweights such as Reliance Industries, ICICI Bank and L&T amid a weak trend in global markets.

Sensex closed 333.93 points lower at 51,941 and Nifty slipped 104.75 points to 15,635.

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said, "Today, strong rejection at 15800/52500 levels resulted in a vertical decline in the market. The Nifty/Sensex fell to 15,565/51,717 in a short span of time. It's a bearish reversal formation for the market and in the next one or two sessions, the market may fall to 15,500 or 15,450 (51600/51300) levels. The sell-off was mainly in small-cap and mid-cap stocks, which had seen strong momentum over the past few weeks, while other sectors too displayed weakness today. Buy in select companies, if Nifty falls to 15500/15450 (51600/51300) levels."

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