Sensex, Nifty LIVE updates: Gains in consumer good stocks led by ITC led the recovery in marketsDomestic stock markets recovered early losses to clock mild gains on Friday morning amid weakness in Asian peers on global growth concerns.
The S-P BSE Sensex index declined as much as174.95 points from the previous close to touch 38,814.79 on the downside, before spurting 292.58 points from that level to touch 39,107.37 on the upside.
Gains in financial and consumer goods stocks outweighed losses in automobile and metal shares.
The broader NSE Nifty benchmark climbed to as much as11,593.60 within the first hour of trade amid high volatility, after hitting 11,516.80 at the day's lowest level.Consumer Goods Stocks Provide Support To MarketsLosses in auto and metal shares dragged the markets lower however gains in consumer goods shares provided some support.
Eight out of the 11 sectoral indices on the National Stock Exchange moved in the negative zone.Index WatchIndexChangeNifty Realty-1.49%Nifty Metal-1.03%Nifty Auto-1.02%Nifty Pharma-0.88%Nifty Media-0.42%Nifty Private Bank-0.23%Nifty IT-0.14%Nifty Bank-0.04%Nifty PSU Bank0%Nifty Financial Services0.35%Nifty Fast Moving Consumer Goods0.48%Sensex, Nifty Turn Flat Amid High VolatilityThe session was marked with high volatility with the NSE's India VIX index rising as much as 2.91 per cent.
The India VIX index gauges the market's expectation of volatility over the near term.
Market breadth was largely neutral, with an advance-decline ratio of about 1:1.
On the BSE, 778 stocks traded higher while 681 moved lower.
On the NSE, 757 stocks advanced, 792 declined while 554 remained unchanged.Sensex, Nifty Off Early LowsThe Sensex index rebounded as much as 281.22 points from the lowest level touched in first few minutes of trade to hit 39,096.01 on the upside.
The broader Nifty benchmark recovered 75.55points from the intraday low of 11,516.80 to touch 11,592.35.
ITC and NTPC were the top percentage gainers on both indices.Sensex Down Over 100 Points, Nifty Below 11,550At 9:20 am, the Sensex traded 111.66 points - or 0.29 per cent - lower at 38,878.08 while the Nifty was down 35.85 points - or 0.31 per cent - at 11,535.35.
Top laggards on the 50-scrip index at the time were Yes Bank, Tata Motors, Nestle, Tata Steel and GAIL, trading between 1.86 per cent and 4.02 per cent lower.ICICI Bank, Kotak Bank, Reliance Industries and IndusInd Bank were the top drags on the Sensex.Sensex, Nifty Open On A Mixed NoteThe S-P BSE Sensex index opened 13.39 points - or 0.03 per cent - higher at 39,003.13, whereas the broader NSE Nifty benchmark started the day at 11,556.35, down 14.85 points - or 0.13 per cent - from the previous close.On Thursday, the Sensex and Nifty had ended 1.03 per cent and 1.15 per cent higher respectively, amid buying across sectors barring IT stocks.Sensex, Nifty Mixed In Pre-Open MarketIn the pre-opening session, the Sensex added as much as 156.83 points to touch 39,146.57 on the upside, before declining as much as 292.79 points from that level to 38,853.78.
At 9:06 am, the Sensex was up 25.31 points - or 0.06 per cent - at 39,015.05 whereas the Nifty was down 19.35 points - or 0.17 per cent - at 11,551.85.There Is No Liquidity Crisis, Says Finance Minister Nirmala Sitharaman There are no liquidity-related problems being faced by private sector banks and non-banking financial companies (NBFCs), Finance Minister Nirmala Sitharaman said on Thursday after meeting representatives of banks and other financial institutions."Sum and substance of what I heard was that there is no liquidity crisis," the Finance Minister said at a press conference.
Her meeting with the banking industry comes within a month of the government announcing a slew of measures to revive the economy.Asian Stocks Down, On Course For Weekly LossShares in other Asian markets declined, with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.09 per cent and Japan's Nikkei sliding 0.54 per cent.Asian stocks were on course for a second straight week of losses as the release of a whistleblower complaint against US President Donald Trump heightened uncertainties about the global economy, already reeling from the China-US trade war.
MSCI's broadest index of Asia-Pacific shares barring Japan has declined 1.4 per cent so far this week.SGX Nifty Futures Indicate Lower Opening For Domestic MarketsDomestic stock markets are likely to start Friday's session on a lower note, amid weakness in Asian peers amid global growth concerns.At 8:36 am, the SGX Nifty futures on Singapore Exchange were down 26.50 points - or 0.23 per cent - at 11,603.50.
The SGX Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty in India.