Markets End The Day Flat After Monday's Rout

Benchmark indices ended the day modestly higher on Wednesday, after Monday's drubbing in which the index had seen the highest ever fall in absolute terms. Tuesday was a holiday and Wednesday saw the markets witnessing recovery, after significant contribution from heavyweight Reliance Industries. The stock ended the day higher by almost 3 to 4 per cent in trade. Yes Bank was once again the star in trade, jumping a whopping 35 per cent, followed by Zee Entertainment and Bharti Infratel.

The Sensex ended the day higher by 62 points, while the Nifty ended the day higher by 7 points.

Coal India also saw good buying and was up 6.36 per cent, as the board is slated to meet on Thursday for the purpose of declaring dividends.

In the morning session, the markets did trade in the negative with stocks like Wipro, GAIL, TCS Fall To 52-Week Lows.

Initially, IT stocks like TCS and Wipro came under some selling pressure in trade, after Karnataka State Minister, said travel by IT professionals to infected COVID 19 infected countries would be restricted.

Most of the stocks that were badly battered on Monday saw a sharp recovery in their prices. Among these included names like LIC Housing Finance, PNB Housing Finance, L&T Finance Holdings saw good recovery in their share price.

Meanwhile, European markets were trading with good gains, following a cut in interest rates by the Bank of England.