Bulls curtail losses of Sensex, Nifty with spirited fightback; TCS, Axis Bank among top gainers

Indian markets recovered from day’s after a spirited fight back by individual stocks like TCS and Axis Bank. The Bank of Japan's decision to widen bond yield target range came as shock for Asian markets as frontline indices across geographies crashed after the news. India's S&P BSE Sensex and NSE Nifty50 was no different but bulls clawed back towards the end. Sensex fell nearly 700 points in the intraday trade while Nifty50 nearly 220 points. 

India VIX, a measure of volatility in Nifty was up 5.44 per cent at 14.99.

The 30-stock Sensex ended at 61,702.29, down 103.90 points or 0.17 per cent while the broader market Nifty50 closed at 18,385.30, down 35.15 points or 0.19 per cent. Banking gauge Nifty Bank finished 54 points or 0.12 per cent lower at 43,359.50. The intraday low was 42,955.

In the 50-stock Nifty50, 39 stocks declined. The top gainers were Adani Enterprises, TCS, Reliance Industries, Axis Bank and Indusind Bank while top losers were SBI Life, Eicher Motors, UPL, Tata Motors and Hindustan Unilever.

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All 15 Nifty Sectoral indices ended today's session in the red. Nifty PSU Bank (-1.57 per cent), Nifty Auto (-1.52 per cent) and Nifty Realty (-1.44 per cent) were the worst performers in the pack.

Selling pressure was seen in in broader markets too. Nifty Mid Cap 100 and Nifty Small Cap 100 ended down 0.87 and 0.75 per cent respectively. In the 100-stock Mid Cap 100, 40 stocks advanced, 59 declined and 1 remained unchanged. Max Health, IPCA Lab and Cummins India were top gainers while Godrej Properties, Bank of India and MFSL were top losers. In the latter, 34 stocks advanced 64 declined and two remained unchanged. Chemplast Sanmar, Balrampur Chini and IIFL while Deepak Fertilizers and Angel One were biggest losers.

Also Read: Sensex, Nifty crash 1% each intraday: 5 reasons behind today's downfall

Out of the 3,657 stocks that traded on BSE on Tuesday, 1,672 stocks advanced, 1850 declined while 135 remained unchanged. 133 stocks hit their 52-week highs while 32 hit their 52-week lows.

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It was day-2 for KFin Technologies IPO. The issue is subscribed 0.36 times by retail investors with overall subscription standing at 0.12 times. Elin Electronics IPO opened today. The issue was overall subscribed 0.17 times with retail portion subscribed 0.27 times at the time of filing this report. 

MCX February Gold and March Silver futures were trading with strength. While the former was up by Rs 467 per 10 gram, the latter was higher by Rs 1500 per kg.