Live: Nifty extends rebound, above 23,250; broader markets outperform | Closing Bell
The Nifty extended its rebound for another day, trading above 23,250 after coming off the day’s high, while the Sensex remained largely flat on the weekly expiry day. Market breadth turned positive, with the India VIX falling 5%, and small- and midcap indices outperforming the benchmarks. Pharma and auto stocks drove the market higher, while financial stocks remained on the backfoot. In the IPO space, Manipal Payment Services made its market debut at a 3% discount to its issue price on the NSE, while LCC Projects listed at a 31% premium and Karamtara Engineering debuted at a 26% premium over their respective IPO prices. The NSE IPO was 30% subscribed on Day 1, led by non-institutional investors and retail participants. Brent crude prices retreated to around $104 a barrel, providing some relief to markets. Among Nifty 50 stocks, HDFC Life, SBI Life and Tata Motors PV were the top gainers, while ONGC, Bajaj Auto and Titan were among the biggest losers.
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