Seesaw At Dalal Street: After Major Collapse, Sensex & Nifty Recover Dramatically To Trade With Marginal Changes

After a day of decline, the markets started Wednesday's trade in red, continuing to incur major losses. In the intraday trade, the marquee indices lost significantly, with Sensex, Nifty, and Nifty Bank all shedding over 1 per cent of their total value in hours.

Ups and Downs

However, as the day progressed, and crossed the halfway mark, the story changed. A green wave blossomed, enveloping the indices, washing away the losses

At the time of writing, the BSE Sensex slashed its losses to trade with marginal losses of 76.24 points, or 0.10 per cent, ending the day at 76,217.36. Similarly, the NSE Nifty dropped in value by 0.15 points to reach 23,071.65.

The Nifty Bank however was positioned better at 49,554.20, with a rise of 150.80 points or 0.31 per cent.

Major Gainers and Losers

Gainers: On the BSE tranche, at the time of writing, major gainers included Bajaj Finserv, Tata Steel, with gains of over 2 per cent. In addition, Ultratech, L&T also made gains of over 1.0 per cent.

Losers: Mahindra & Mahindra was one of the biggest losers. ITC, Reliance and Powergrid, along with Infosys also recorded losses.

Markets In The Morning

The Sensex began the day at 76,188.24, lower than ist previous day's 76,293.60, and the Nifty at 23,050.80, started slightly lower that the previous day's 23,071.80

Nifty Bank in the morning session was trading low as well.

Asian Markets

The Asian markets rose in green, as the indices traded in positive territory. Japan's Nikkei gained 0.42 per cent or 162.53 points, inching closer to the 39k mark, closing at 38,963.70.

Another Tokyo-based index, TOPIX, closed at 2,733.33, gaining by 0.012 per cent or 0.32 points. As we move to China, the Hang Seng also made significant gains in its numbers, trading with a jump of 2.54 per cent or 540.94 points, taking the overall value to 21,835.80.

Shanghai-based SSE Composite also ended the day's trade in the green, with gains. The index surged by 0.85 per cent or 28.33 points of its value and closed at 3,346.39.

South Korea's KOSPI was trading in green as well, as the wave of euphoria took the index to 2,548.39, gaining by 9.34 points or 0.37 per cent.