Sensex rebounds 254 points as banking, metal stocks take charge

Mumbai, October 16

Indian equities on Friday recovered from the massive losses suffered in the previous session, with banking, metal and IT counters leading the rally.

After fighting bouts of volatility, the BSE Sensex closed 254.57 points or 0.64 per cent higher at 39,982.98.

Intra-day, the 30-share benchmark swung over 426 points, touching the day’s peak at 40,125.71 and the lowest level at 39,700.

The NSE gauge Nifty settled 82.10 points or 0.70 per cent up at 11,762.45.

On the Sensex chart, Tata Steel, HDFC Bank, Ultratech Cement, PowerGrid, ONGC, Kotak bank and Axis Bank were among prominent gainers.

Of the 30 Sensex constituents, 24 ended with gains.

HCL Tech, Mahindra & Mahindra, Reliance Industries, Asian Paints, Nestle India and Sun Pharma suffered losses.

The rupee on Friday settled almost flat at 73.35 against the US dollar in the absence of any fresh trigger.

Global markets traded mixed amid concerns over resurgence in coronavirus cases in some parts of the world. PTI