Sensex recovers 300 points from day’s low to settle at 35,809


Benchmark indices ended marginally lower on Friday led by a decline in HDFC, HDFC Bank, Sun Pharma and Axis Bank.

The S&P BSE Sensex ended at 35,809, down 67 points or 0.19 per cent, while the broader Nifty50 index settled at 10,724, down 22 points or 0.20 per cent.

Among the sectorial indices, the Nifty Pharma index ended 3.1 per cent lower led a fall in Glenmark and Lupin. The Nifty Metal index settled 2.07 per cent lower weighed by JSW Steel and Welspun Corp.

In the broader market, the S&P BSE MidCap index ended 167 points, or 1.18 per cent lower at 13,941, while S&P BSE SmallCap index fell 111 points, or 0.83 per cent to settle at 13,253.

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Sensex slips 85 points as private banks drag, Yes Bank falls 3.5%


The benchmark indices settled marginally lower on Friday weighed by financials and consumer stocks amid caution in global markets.

The S&P BSE Sensex ended at 38,252, down 85 points while the broader Nifty50 index settled at 11,557, down 26 points.

Among key stocks, Yes Bank and ICICI Bank were among the top losers on the BSE, falling 3.5 per cent and 2 per cent, respectively.

On the National Stock Exchange (NSE), the Nifty Bank index settled 0.7 per cent lower weighed by Yes Bank, Bank of Baroda and ICICI Bank.

Shares of selected pharmaceutical companies were in focus with Amrutanjan Health Care, Pfizer, Merck and Novartis India rallying up to 18% on the BSE in otherwise subdued market. All these stocks were trading at their respective all-time highs.

Analysts remain bullish on Larsen & Toubro (L&T) and have maintained a ‘buy’ rating on the stock despite the company’s buyback proposal. The company, at its meeting on Thursday, approved a proposal to buy back up to 60 million equity shares at a maximum price of Rs 1,500 per equity share for an amount of Rs 90 billion.

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