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Indian Stock Markets Showed Signs of Recovery

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The BSE benchmark Sensex recovered by over 155 points and the NSE Nifty breached the 10,600-mark in opening trade Monday on fresh buying by investors, ahead of release of macroeconomic data later in the day.

Traders said, fresh fund inflows by foreign funds and a bullish trend on other Asian bourses also influenced trading sentiments here.

The 30-share Sensex was quoting 155.14 points, or 0.44 per cent higher at 35,313.69 points. The gauge had lost over 79 points on Friday.

Reflecting the market’s better mood, all the sectoral indices led by consumer durables, IT, healthcare and banking were trading in the positive zone with gains up to 1.66 per cent.

Also, the NSE Nifty was trading higher by 46.55 points, or 0.44 per cent, to 10,631.75.

Brokers said, building up of positions by domestic investors ahead of the release of index of industrial production (IIP) data for September and inflation data for October later in the day, buoyed trading sentiment.

Among the Sensex constituents, Kotak Bank, Bharti Airtel, IndusInd Bank, Adani Ports, Infosys, HDFC Ltd, Tata Steel, M&M, TCS, ONGC, Coal India, Asian Paints, Bajaj Auto, L&T, Vedanta Ltd, Sun Pharma, ICICI Bank, HDFC Bank and Axis Bank were major gainers, rising by up to 1.49 per cent.

Meanwhile, on net basis, foreign funds bought shares worth Rs 614.14 crore, while domestic institutional investors (DIIs) sold shares to the tune of Rs 337.28 crore Friday, provisional data showed.

In the Asian region, Japan’s Nikkei was up 0.29 per cent, Shanghai Composite Index up 0.67 per cent. Hong Kong’s Hang Seng too rose 0.26 per cent and Taiwan index was up 0.40 per cent.

The US Dow Jones Industrial Average, however, ended 0.77 per cent down on Friday.

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