The BSE barometer, which had lost over 415 in the previous trading session, today moved up by 461.14 points at 14,944.97. Similarly, wide-based National Stock Exchange index Nifty rose by 130 points at 4,482.30. It touched the day's high of 4,558.00 and a low of 4,358.30 points.
Metal shares were the top gainers with Hindalco up over 5%.
The Sensex tumbled to its biggest fall in nearly seven weeks on concerns over deepening tensions between the Left parties and the Congress on the Indo-US civil nuclear deal.
Overnight, the Wall Street closed on a flatter note.
Tata Steel was the biggest gainer in the Sensex pack, rallying 5.78 per cent; followed by Yes Bank, NTPC, L&T, Axis Bank, SBI, M&M, HDFC twins, Vedanta, HUL, PowerGrid, ICICI Bank, Kotak Bank, HCL, TCS and ITC, gaining up to 3.79 per cent.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
Heightened volatility and lacklustre returns continue to make a dent in retail participation in the equities cash market segment. The percentage of retail participation in the average daily turnover in the National Stock Exchange's (NSE's) cash segment has come down to 40.8 per cent in February 2023, from 52 per cent a year ago. At the peak, retail investors accounted for nearly two-thirds of cash market volumes in July 2020.
'We are not entirely out of the woods.' 'The broader trajectory remains tentative.' 'However, we may expect some near-term bounce.'
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
Historically, March has been a volatile month for Indian equity markets. To begin with, it marks the end of a financial year, wherein there is some compulsive portfolio rebalancing trade by large funds - domestic and foreign. Retail investors, too, prefer to 'cash in' on their gains and losses before the financial year runs out.
Boosted by a rally in stocks, total market valuation of listed companies at the National Stock Exchange hit the Rs 100 lakh crore-mark on Wednesday.
While the four largest listed paint companies have seen marginal negative returns, the S&P BSE Fast Moving Consumer Goods (FMCG) and the National Stock Exchange Nifty FMCG indices have delivered a solid 16 per cent return during the same period. Initially, volume growth and reduced costs bolstered the sector's sentiment, but brokerages have grown cautious due to increased competitive pressures.
Investors continue to make losses on investments.
Analysts say lack of strong moves in stocks or sectors contributed to markets moving indecisively.
Deven Choksey, managing director of broking firm, K R Choksey Investment Managers shares his concern about 'trading stoppages' with Rediff.com's Prasanna D Zore.
Markets surged on hopes that the exit polls would show that the BJP winning majority in the general elections.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Softening rural consumption and the likelihood of weak corporate earnings in the March quarter saw investors dump stocks.
Rise in crude oil price and rally in global equities aided the sentiment
Derivatives exchange DGCX started trading futures for the S&P BSE Sensex
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
The dealers operating in the space have jumped nearly three times over the past two years.
The bias for the Sensex is likely to remain bearish as long as the index sustains below 18,900-odd levels. On the downside, the index could slide to 17,300-odd levels
Lupin was the top gainer after the USFDA cleared its Goa facility
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
DLF, Indiabulls Real Estate, HDIL, YES Bank, Union Bank of India and Maruti Suzuki are down 4-12% on NSE.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
Mutual funds, as experts and custodians of another set of retail investors' savings, play a speculative game they are neither supposed to nor equipped to do, cautions Debashis Basu.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
The index options also touched a record high of Rs 4.9 lakh crore.
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
The total number of demat accounts in the country stood at 171.1 million as of August 31.
Investors were seen in a cheerful mood and widened their positions in frontliners as well as midcap and smallcap stocks to mark the beginning of their new accounts
Devangshu Datta believes you should pick stocks trading at much lower valuations than the market average.
