Sensex slips 513 points as Nifty falls below 24,000
Business
The Indian stock market started Monday on a shaky note, with the Sensex declining 513.19 points and the Nifty slipping below 24,000.
But both indices had pared some of their sharp early losses by post-noon: the Sensex was trading at 76,992.83, down 271.68 points, and the Nifty was trading at 24,075.95, down 99.70 points.
HDFC Bank gains, India VIX eases
What helped? Value buying in private banking stocks gave markets a boost: HDFC Bank shares jumped 3% as investors felt good about its upcoming leadership change.
Analysts like Bernstein are still optimistic about HDFC Bank's future under new management.
Plus, market volatility cooled off in the afternoon (the India VIX eased after an early spike), which made investors feel more confident sticking around.