Sensex, Nifty edge up again in bid to recover from losses

Sensex, Nifty trading higher after Q2 GDP data reverses five-quarter slide

The 30-share BSE index dropped by 301.44 points or 0.90 per cent to 33,301.32 at 1150 hrs. Both the indices have consolidated upon the gains in initial trading.

The Sensex ended 453 points lower at 33,149 while Nifty settled at 10,226.

Equity benchmarks fell sharply on Thursday, with the Sensex shedding almost 500 points intraday as investors looked cautious after widening fiscal deficit and ahead of second quarter GDP data due later today. "Indian stocks retracted to a risk off mode ahead of the GDP data release scheduled on Thursday".

"Investors also seemed to be waiting for the outcome of OPEC's meeting and lacked confidence in chasing short-covering rallies ahead of domestic F&O expiry on Thursday", said Anand James, Chief Market Strategist, Geojit Financial Services.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 859.27 crore on Wednesday, as per provisional data.

Kashmir: 5 militants killed in encounters in Budgam, Baramulla
A clash between civilian and Military forces has also erupted near the encounter site, which results in the injury to a civilian. However, doctors said three of the injured civilians, including a 15-year-old boy, had gunshot wounds.

Investors' wealth as measured by market capitalisation of the BSE listed companies declined by over Rs 1.06 lakh crore.

Asian markets fell as investors ponder the longevity of the global equity bull run.

Big gainers that supported the key indices include Tata Motors, ONGC, TCS, Sun Pharma, L&T, Kotak Bank, Adani Ports, ICICI Bank, Reliance Industries, Hero MotoCorp, M&M, Maruti Suzuki, NTPC and ITC Ltd with gains of up to 1.22 per cent.

Sector-wise, the S&P BSE banking index declined by 548.72 points, followed by auto index by 250.23 points and metal index by 154.35 points.

Hong Kong's Hang Seng was up 0.01 per cent and Japan's Nikkei was nearly flat in their early sessions while Shanghai Composite index fell 0.20 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent.

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