Sensex settles 600 pts higher from days low, Nifty ends above 25,550: Three reasons behind sharp market recovery
Value buying is among key reasons behind markets recouping some losses from previous session
Benchmark indices Sensex and Nifty recovered strongly from day's lows on February 20 to close in green amid broad-based buying barring IT sector. Sensex settled 600 points higher from day's low while Nifty closed above 25,550-mark.
On February 20, Sensex closed 316.57 points or 0.38% higher at 82,814.71, and the Nifty climbed 116.9 points or 0.46% to 25,571.25. About 1,842 shares advanced, 2,167 shares declined, and 153 shares were unchanged. Intraday low of Sensex is 82,206 while that of Nifty was 25,379.75.
The Nifty 50 index rose 0.4% this week. Information technology majors were mostly responsible for limiting the gains, while energy companies lent support to the 50-stock index during the week. Larsen & Toubro rose almost 5% in the last five trading sessions, while Eternal was down 5.5% for the period.