Sensex, Nifty recover; Meghmani Organics gains 9 per cent, SAIL & Adani Power lock in at upper circuit, HAL declines

On Monday, the domestic benchmark indices took a deep dive as bears maintained a dominating position. Sensex declined by 397 points or 0.78 per cent to close at 50,395.08 levels while Nifty slid by 101.45 points or 0.67 per cent to settle at 14,929.50 levels.  

During the latter part of today's trading session, the domestic benchmark indices recovered from the morning's plunge. Sensex recovered by nearly 600 points from its day's low of 49,799.07 levels. 

Investor sentiments remained weak during today's trading session, led by weak global cues, increasing Coronavirus cases, rise in inflation and bond yields. As a result of the rise in investors' concerns over the sustenance of optimistic economic growth, an environment of broad-based selling was seen across a majority of the indices today. 

Banking and financial stocks remained under strong selling pressure on Monday. 

In the global markets, Asian indices such as Shanghai Composite index and KOSPI fell by 0.96 per cent and 0.28 per cent, respectively while Hang Seng and Nikkei gained by 0.33 per cent and 0.17 per cent, respectively. In the European markets, FTSE 100, DAX, and CAC 40 were trading up by 0.32 per cent, 0.15 per cent, and 0.32 per cent, respectively. 

Sensex gainers were made up of Tech Mahindra that surged 2.22 per cent, Power Grid rose by 1.86 per cent, IndusInd Bank increased by 1.51 per cent, HCL Technologies inched higher by 1.24 per cent, NTPC went up by 1.14 per cent, SBI gained 0.66 per cent, etc. 

Sensex draggers included Bajaj Finserv that plunged 2.68 per cent, Bajaj Auto tumbled by 2.21 per cent, Bajaj Finance decreased by 2.09 per cent, Larsen & Toubro declined by 1.99 per cent, Asian Paints fell by 1.92 per cent, etc. 

Amongst sectoral indices on BSE, the Metal index was the biggest gainer, up by 1.49 per cent whereas, the Energy index was the biggest loser, down by 1.20 per cent. Meanwhile, BSE Small-Cap and BSE Mid-Cap indices also declined by 0.53 per cent and 0.72 per cent, respectively.