Stock Markets make a strong recovery post three-day losing streak

The BSE Sensex ended with a gain of 21 points at 28,082 on Monday. It opened at 28,144, touched an intra-day high of 28,217 and low of 28,068. The NSE Nifty closed with a gain of 17 points at 8,715 on Monday. It opened at 8,735, hit a intra day high of 8,746 and low of 8,704.

The Indian equity market made a recovery from a three-day losing streak, as the Sensex gained by over 150 points in the morning session. The domestic market traded flat following tepid global trends.

The markets got some impetus from NITI Aayog vice-chairman Arvind Panagariya’s statement that India can become a $10 trillion economy in the next 15 years, from the existing $2 trillion, like China did in last one and a half decade. 

Tata Steel, Asian Paints, Cipla, M&M, Power Grid and Hero MotoCorp were among the gainers, whereas Bharti Airtel, TCS, Adani Ports, Infosys, HDFC and Sun Pharma were seen losing sheen on BSE.

Buying activity was seen in metal, basic materials, consumer durables,pharma, utilities and FMCG sectors, while telecom, realty and finance showcased weakness on BSE.