Markets Snap Nine-Day Losing Streak, Sensex Closes Above 37,300
Markets managed to bounce back from a nine-day losing streak.
Equity markets finally bounced back on Tuesday, 14 May, after nine straight days of losses.
The 30-share BSE Sensex jumped 227.71 points to close at 37,318.53 while the broader 50-share NSE Nifty finished at 11,222.05, up 73.85 points.
The turnaround in the markets came on the back of PSU bank and pharma stocks with the respective sectoral sub-indices gaining 2.85 percent and 1.52 percent during the day’s trade.
The markets were in the red till mid-day before surging in the late hours of trading. Earlier, in morning trade, the depreciation in Rupee and surge in crude oil prices kept the bourses under pressure.
Sun Pharma, Bharti Airtel and IndiaBulls housing were the top gainers while major IT stocks faced losses, with the Nifty IT sub-index finishing 1.20 percent in the negative.
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