Domestic stock markets fluctuated between gains and losses amid volatile trade on Tuesday, a day after official data showed the country’s gross domestic product contracted 23.9 per cent in the June quarter. The S&P BSE Sensex index climbed up 409.12 points – or 1.06 per cent – to 39,037.41 amid choppy trade in early deals, having slipped to the negative zone briefly following a positive start at 38,754. The broader NSE Nifty 50 benchmark crossed the 11,500 mark, a day after falling more than 2 per cent to 11,387.50.
At 10:01 am, the Sensex traded 36.12 points – or 0.09 per cent – higher at 38,664.41 while the Nifty was down 11.95 points – or 0.10 per cent – at 11,375.55. (Track Sensex, Nifty Here)
Hindalco, JSW Steel, Bharti Infratel and Asian Paints – trading between 1.56 per cent and 2.21 per cent higher – rose the most among the 27 gainers in the 50-scrip Nifty basket. On the other hand, ONGC, Zee Entertainment, Axis Bank, UPL and Sun Pharma, down between 1.18 per cent and 3.48 per cent each, were the top losers.
While Asian Paints, Bharti Airtel and HUL were the biggest boosts to Sensex, Reliance Industries, ICICI Bank and Axis Bank were the biggest drags.
Data released after market hours on Monday showed the country’s GDP shrank by a record 23.9 per cent in April-June from a year earlier, much worse than forecasts and pointing to a longer than previously expected recovery with analysts calling for further stimulus.
