MUMBAI: Nifty bounced back and recovered the morning losses to touch 5800 level. At 12.30 pm, BSE benchmark Sensex was up 162.48 points to be at 19345.30. National Stock Exchange index Nifty had moved up 42.55 points to be at 5794.45.
Scrips of technology and banks, which had dragged the markets on Thursday, were performing well and pushed it up.
Heavy selling pressure was seen in SAIL, Tata Motors, L&T, HDFC, Maruti and Tata Steel.
At 9.15 am BSE sensex shed 37 points to be at 19145. Nifty was down 22 points to be at 5729.
In the morning session, the Sensex shed 90 points in the opening trade on Friday, extending yesterday's losses on mixed trend overseas and continued selling by funds and retail investors fearing hike in key interest rates by the Reserve Bank of India.
The 30-share Bombay Stock Exchange barometer lost 90.53 points to 19,092.29 level, with financial, realty, auto and metal sector stocks leading the fall. It had plunged 351.28 points in the previous session.
The broad-based index Nifty also declined by 30.20 points to 5,721.70 points today.
Brokers said continued offloading of positions by funds, particularly, in banking and realty stocks amid fears of a interest rate hike this month by the RBI to curb inflation, dampened the trading sentiment here.
Among banking stocks, the country's largest lender State Bank of India fell by 0.45 per cent to Rs 2,549 a share, while ICICI Bank shed 0.90 per cent at Rs 1,018.50 a share.
In other markets in Asia, Japan's Nikkei shed 0.40 per cent while Hong Kong's Hang Seng index was up by 0.28 per cent cent in the morning trade today.
In the US, Dow Jones Industrial Average ended 0.20 per cent higher in yesterday's trade.
Read more: Nifty bounces back, touches 5800 level - The Times of India http://timesofindia.indiatimes.com/business/india-business/Nifty-bounces-back-touches-5800-level-/articleshow/7282023.cms#ixzz1B05d1nWP
Scrips of technology and banks, which had dragged the markets on Thursday, were performing well and pushed it up.
Heavy selling pressure was seen in SAIL, Tata Motors, L&T, HDFC, Maruti and Tata Steel.
At 9.15 am BSE sensex shed 37 points to be at 19145. Nifty was down 22 points to be at 5729.
In the morning session, the Sensex shed 90 points in the opening trade on Friday, extending yesterday's losses on mixed trend overseas and continued selling by funds and retail investors fearing hike in key interest rates by the Reserve Bank of India.
The 30-share Bombay Stock Exchange barometer lost 90.53 points to 19,092.29 level, with financial, realty, auto and metal sector stocks leading the fall. It had plunged 351.28 points in the previous session.
The broad-based index Nifty also declined by 30.20 points to 5,721.70 points today.
Brokers said continued offloading of positions by funds, particularly, in banking and realty stocks amid fears of a interest rate hike this month by the RBI to curb inflation, dampened the trading sentiment here.
Among banking stocks, the country's largest lender State Bank of India fell by 0.45 per cent to Rs 2,549 a share, while ICICI Bank shed 0.90 per cent at Rs 1,018.50 a share.
In other markets in Asia, Japan's Nikkei shed 0.40 per cent while Hong Kong's Hang Seng index was up by 0.28 per cent cent in the morning trade today.
In the US, Dow Jones Industrial Average ended 0.20 per cent higher in yesterday's trade.
Read more: Nifty bounces back, touches 5800 level - The Times of India http://timesofindia.indiatimes.com/business/india-business/Nifty-bounces-back-touches-5800-level-/articleshow/7282023.cms#ixzz1B05d1nWP
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