Stock Markets Update: Indices recover drastically after big crash

Stock Markets show bull rally after intraday crash on 16th May

Stock Markets recovered after huge losses during intraday session on 16th May, 2024. When every stock looked like underperforming, investors started investing in big stocks like Infosys, Bharati Airtel and few others. This created rally in last few hours resulting in major recovery. International Stock Markets did push indices to start trading above the previous closing.

But Investors continued to be highly circumspect and they sold off most of their holds in big stocks. In the final hours, they started investing in same big stocks at their lifetime lows. This resulted in a rally in major stocks of Stock Markets in the final hours. Hence, BSE gained 676.69 points to close at 73,663.72and Nifty gained 203.30 points to close at 22,403.85 mark.

Stock Markets ended with huge gains despite intraday crash
Stock Markets ended with huge gains despite intraday crash

In this session of Stock Markets, BSE Sensex started trading at 73,338.24 and then continued to trade between 72,529.97 – 73,749.47. On the other hand, Nifty Sensex started trading at 22,319.20 mark and it hit its highest for the day at 22,432.25. Nifty50 hit the lowest at 22,054.55. All indices of Stock Markets attracted investments after big crash mid-day and IT stocks majorly benefitted from this late rally.

Indian Rupee traded at Rs.83.48 against USD on 16th May 2024. Mahindra & Mahindra, Bharati Airtel, Tech Mahindra, Infosys, Titan shares have ended up as Top Gainers. Maruthi, Tata Motors, State Bank of India, IndusInd Bank, Power grid Corporation shares have ended as Top Losers. Stock Markets have been unreasonably volatile and experts state that it’s difficult to predict trends at the moment.

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