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Sensex bounces back by 174.84 pts
Economy

Sensex bounces back by 174.84 pts

Agency News

Mumbai, Dec 4: The BSE Sensex on Wednesday bounced back by 174.84 points to 40,850.29 on fresh buying in Materials, Bankex, Metal and Technology stocks amid reports that the US and China were edging closer to a trade deal.

The Nifty of National Stock Exchange (NSE) too rose by 43.10 points to 12,037.30.

Despite high volatility in the stock market today, the market ended in green.

Sliding by 126 points on Tuesday, the Sensex opened negative at 40,606.01, easing by 69 points. It dropped further by 200 points to 40,475.83 days low.

Later, it bounced back by 211 points to 40,886.87 day high, before closing at 40,850.29, up by 174.84 pts from its last close.

The Nifty registered day high and low at 12,054.70 and 11,935.30 pts respectively.

The sectoral indices like Bankex, Metal, Technology, IT and Health Care pushed the market up.

In scrips, Tata Motors, Yes Bank, Tata Motors DVR, ICICI Bank and VEDL supported the market while selling in L & T, Reliance Industries, Asian Paints, Maruti Suzuki and Bajaj Auto capped from further gain, they added.

The S&P BSE Mid-Cap index rose 0.52 pc while the S&P BSE Small-Cap index advanced 0.33 pc.

The market breadth was negative. On the BSE, 1256 shares rose and 1211 shares fell. A total of 206 shares were unchanged. In Nifty 50 index, 34 stocks advanced while 16 stocks declined.

Foreign portfolio investors (FPIs) offloaded shares worth a net Rs 1897.86 crore in the cash segment in the past two sessions.

European stocks bounced back from early losses after media reports suggested that the U.S. and China were edging closer to a trade deal. According to reports, the two countries were moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal.

Asian markets ended lower on Wednesday after an overnight fall in US stocks. US stocks fell on Tuesday after President Donald Trump reportedly said it may take until after the 2020 US elections to complete a trade deal with China. (UNI)