InvestorQ : How did the Sensex and Nifty bounce back so sharply on 12 June after a weak start to trading?
vaishnavi mhatre made post

How did the Sensex and Nifty bounce back so sharply on 12 June after a weak start to trading?

Answer
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Mary Joseph answered.
3 months ago


The start was extremely tepid on the back of a weak start but the Sensex recovered more than 1400 points during the day to close in the positive. The Nifty closed above the 9900 levels. The markets were buoyed by the strong opening in the European markets with most of the heavy weights recovering sharply. Markets tracked positive opening in the European markets. Other than the IT sector, that was hit by the H1-B visa news, all other sectors traded positive. Even the BSE Midcap and the Small-cap index closed in the green on Friday. Some of the top gainers in the Nifty were Bajaj Finance, Shree Cements and M&M. IT was the only sector that fell by over 1.5% on the H1-B visa worries after Trump threatened to ban these visas altogether. More than 60 stocks hit their 52-week high on the Bombay Stock Exchange.