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Yesterday the market recouped more than half of its previous day's losses aided by auto, banks, FMCG, IT, and pharma stocks. The BSE Nifty50 rallied more than 140 points to 15,557 and the BSE Sensex climbed over 400 points to 52,266 following positive Asian cues.
The broader markets also joined the rally with the Nifty Midcap 100 and Smallcap 100 indices rising 1.2 and 1.3 percent respectively. The market breadth was positive as more than two shares gained for every declining share on the NSE.
India VIX, which measures the expected volatility in the market, also cooled down by two percent to 20.88 levels, helping bulls on Thursday, but stability is expected only if the volatility falls below 20 levels.
Stocks in focus that outperformed the broader markets included Spandana Sphoorty Financial which rallied nearly 20 percent to Rs 398.55. In fact, after hitting its lowest closing level on June 20, the stock gained 35 percent in three sessions.
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