Bleeding pharma companies pulled down the market due to a weak start to sector earnings season.
Tata Steel was the top gainer in the Sensex pack, rising more than 1%, followed by IndusInd Bank, ICICI Bank, Titan, SBI and HDFC Bank
Market breadth was positive as 1,503 shares advanced on the BSE, while 975 declined and 104 remained unchanged
With international markets supporting the move we could see Nifty showing some positive moves on a break above 15950
Zomato with a high free-float market cap due to zero promoter holdings could be a serious contender for entry into the benchmark indices going ahead
Sensex ended 638 points or 1.22% higher at 52,837, while Nifty 50 settled at 15,824, up 191 points or 1.23%
Asian stocks traded higher after solid company earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups
The selloff in the broader market was much deeper compared to benchmarks. The BSE MidCap index slipped 1.28% & the BSE SmallCap index lost 1.44%.
Sectoral indices opened mix as Nifty FMCG index was up 0.19%. On the other hand, Nifty Bank declined 0.87%, Nifty Metal index lost 0.72%.
Sensex, or sensitive index, is the oldest market index for equities. It has shares from top 30 companies listed in the BSE