Sensex up 600 pts from day’s low; Nifty above 23,200; sugar stocks gain up to 5%

The Nifty50 and the Sensex erased losses as private bank pharma, and media stocks supported.

As of 11:38 AM, the Nifty50 was flat at 23,213.45, and the Sensex up 11.80 points or 0.02 per cent at 73,994.98.

HCLTech, Infosys, and Tech Mahindra were the top losers in the Nifty50 index.

The US launched further attacks on Iran. President Donald Trump said Wednesday that Tehran had a long time to negotiate a deal with Washington, which would have been good for them, but now they have to pay the price. He also said that the US will be attacking them ‘very hard’.

In the broader markets, the Nifty MidCap and the Nifty SmallCap indices were trading 0.58 per cent and 0.33 per cent down, respectively.

Sector-wise, the Nifty IT fell over 2 per cent to become the worst-performing sector. The Nifty Consumer Durable, the Nifty Auto, and the Nifty Chemical declined the most. The Nifty Pharma and the Nifty Healthcare outperformed.