Opening Bell: In a sharp rebound, equity markets reversed morning losses and were trading with decent gains today(23 August 2022). Frontline Nifty50 index was back above the 17,550-mark, rising over 70 points, while the S&P BSE Sensex was up 200 points near 59,000 levels.
Broader markets, too, recouped losses as the Nifty Midcap 100 and Nifty Smallcap 100 advanced up to 0.9 percent.
While NTPC, M&M, and Sun Pharma were supporting the indices to trim losses; Infosys, Wipro, and Tech Mahindra weighed heavily on the indices.
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All sectors opened in the negative zone with Nifty IT and Nifty Metal indices battered in trade.
Among individual stocks, shares of Infosys dropped over 2 percent after the IT major slashed the average variable payout for the June quarter. Besides, shares of RBL Bank gained over 2 percent after the board approved fund raise of Rs 3,000 crore.