Sensex Recovers Nearly 900 Points From Day's Low; Nifty Reclaims 17,450
NDTV
Latent View Analytics made blockbuster stock market debut as the stock opened for trading at Rs 512 compared with its issue price of Rs 197.
The Indian markets recovered intraday losses with Sensex rising as much as 884 points from the day's lowest level and Nifty reclaiming its important level of 17,450 after testing low of around 17,200 led by gains in Bharti Airtel, Tata Steel, Power Grid, HDFC Bank, State Bank of India and Bajaj Finserv. The sharp recovery in the markets came on the back of short-covering as markets got into oversold zone in morning deals, analysts said.
As of 12:16 pm, the Sensex was up 11 points at 58,477 and Nifty 50 index advanced 36 points to 17,452.
"Our research suggests that the levels of 16,700-17,000 may act as an important support level in the market. If the market sustained above the support of 16,700, we can expect it to trade in the range of 16,700-17,500," said Gaurav Garg, head of research at Capitalvia Global Research.
Latent View Analytics made blockbuster stock market debut as the stock opened for trading at Rs 512 compared with its issue price of Rs 197, marking a gain of 160 per cent.
