Sensex, Nifty end higher as global markets stage recovery

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The Sensex and the Nifty ended the day higher as global markets staged a smart recovery, particularly European markets.

The Sensex ended the day with gains of 109 points, while the Nifty gained 32 points in trade. IT stocks had a bad session in trade with the likes of TCS plunging a huge 9 per cent, while HCL Tech lost also lost 9 per cent in trade, following results that lagged estimates.

Sensex, Nifty end higher as global markets stage recovery
However, banking stocks had a super session as investors sold technology stocks and shifted to higher beta names. PSU banking stocks topped the winners list with stocks like Andhra Bank surging a huge 5 per cent and Union Bank of India, IDBI Bank and Syndicate Bank among the other winners in trade.

Mid cap stocks also had a good session in trade with stocks like IFCI, Power Finance and Voltas leading the set of gainers.

Metal stocks also took a pounding with stocks like Jindal Steel, Hindalco and Sesa Sterlite among the losers. DLF which had gained ground on Thursday once again ended the day lower.

Zee Entertainment ended the day significantly higher ahead of its results.

Meanwhile, markets across Europe were trading sharply higher after witnessing a volatile trade throughout the week.

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