Nifty recovers nearly 200 points from days low; broader markets outshine as they gain over a per cent!

HDFC Bank, VEDL, Tata Steel, JSW Steel, and SBI were among the top five contributors to Nifty.   

Market Update at 10:01 AM: Nifty made a low of 17,216 early in the day; however, this dip was used as a buying opportunity by the market participants and it is quite evident from the fact that the index recovered almost 200 points from the day’s low as it has reclaimed its important level of 17,400 mark.   

HDFC Bank, VEDL, Tata Steel, JSW Steel, and SBI were among the top five contributors to Nifty.   

The broader market indices were seen outperforming the frontline gauges with Nifty Midcap and Smallcap advancing over 1 per cent each.   

Interestingly, with the recovery from the lower levels, India VIX has trimmed its gains and it is sharply down from the day’s high.   

The India benchmark indices have extended their fall for the fifth straight session on Tuesday with Nifty and Sensex witnessing a fall of nearly 1 per cent.   

Indian VIX has jumped over 13 per cent for the second straight session and it trades nearly at a six-month high, close to the level of 20.   

Among the sectoral indices, Nifty Metal, Nifty PSU Bank, Nifty Realty, and Nifty Media were seen trading in red while on the other hand, Nifty IT and Nifty Energy turned out to be the top losers.

The broader markets were seen relatively outperforming the frontline indices.