After hitting fresh highs in early trade, buoyed by weakness in heavyweight stocks including RIL and HDFC, Sensex tumbled over 300 points, nonetheless at the later part of the trade it recovered most losses and was down by a margin. At the closing, Nifty settled at 14565, while Sensex was down by 25 points at 49492. Broader markets however unperformed the headline indices.
Nifty Pharma has been the worst performer in trade today sectorally, while the sector that gained includes Nifty Auto pack.
Top stocks that gained in today's trade include M&M, Adani Ports, SBI, IOC and NTPC, while major losers in today's trade have been Bajaj Finance, HDFC, Shree Cements, Bajaj Finserv and UPL.
On profit booking moves, Mrs Bectors Food hit its lowest price since listing. The company has strong brands like English Oven and Cremica in its portfolio.
Nifty IT was also trading marginally higher ahead of IT majors' result announcement which are expected to come in strong.
Meanwhile, European indices traded with gains of up to 0.37% on French CAC and US stock futures point to a strong opening there.
Oil prices have reached to pre-Covid levels of over $55 per barrel and in line price of auto fuel in India have scaled new highs in Delhi and Mumbai.