New Delhi, India (BBN)-The BSE benchmark Sensex came off the intraday low levels in the afternoon trades on Thursday on the back of buying in power, oil & gas and auto stocks.
The 50-share Nifty jumped above 8,200 led by gains in blue-chip stocks such as ONGC, HDFC Bank, Tata Steel and State Bank of India, reports NDTV.
The Sensex opened in the red and at one point fell over 300 points to touch the low of 26,948 on the back of selling in banking and IT stocks.
The foreign institutional investors (FIIs) sold shares worth Rs 70 crore on Wednesday.
The FIIs have been selling Indian shares ever since the government raised demand for tax on the gains made by FIIs during the previous years.
Over the last one month, FIIs have sold shares worth over $2 billion or nearly Rs 14,000 crore.
From the Nifty-50 basket of stocks, 25 stocks were advancing while 25 were declining.
Lupin shares fell 3.6 per cent to Rs 1,629 after the company on Wednesday reported 1 per cent fall in its net profit. The results were below the Street expectations.
Analysts polled by NDTV had estimated its net profit at Rs 607 crore on sales of Rs 3,346 crore.
Vedanta, HCL Technologies, Infosys, Wipro, Sun Pharma, HDFC, Tata Motors, Kotak Mahindra Bank, ICICI Bank and ITC were also among the laggards.
On the other hand, Asian Paints, PNB, Hindalco, BPCL and SBI were among the gainers.
At 3:04 pm, the Sensex was down 72 points at 27,178 and the Nifty fell 20 points to 8,215.