After five consecutive sessions of losses, the key Indian equity indices on Monday recovered from their five-week lows on the back of broadly positive global cues, coupled with healthy buying in metals, consumer durables and capital goods stocks.The Nifty50 of the National Stock Exchange (NSE) reclaimed the psychologically important 9,800-level intra-day by touching a high of 9,818.30 points.However, on a closing basis, the Nifty50 could not hold that level and closed at 9,794.15 points -- up 83.35 points or 0.86 per cent from its previous session's close.The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,299.52 points, closed at 31,449.03 points -- up 235.44 points, or 0.75 per cent, from its previous close at 31,213.59 points.The Sensex touched a high of 31,526.40 points and a low of 31,298.90 points during the intra-day trade.The BSE market breadth was bullish with 1,874 advances and 695 declines.The broader market indices outperformed the benchmark indices. The S&P BSE mid-cap index rose by 2.49 per cent and the small-cap index by 2.48 per cent.
"Nifty rose today, after showing a steep decline in the last four sessions and closed the day higher by around 83 points. After opening with an upside gap of around 40 points today, Nifty continued to rise gradually for the better part of the session," Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS."Minor intra-day profit booking was observed during the latter part of the session. Asian markets closed with a mixed trend, while European indices like CAC 40 and FTSE 100 traded in the positive," he added.On the currency front, the rupee closed on a flat note at 64.12 to a US dollar.In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 1,638.83 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 1,619.17 crore."Benchmark indices rebounded, to end over 0.5 per cent higher on opening of the week, snapping a five-day losing run after weak US inflation data dampened prospects of a rate hike this year, lifting sentiment across global markets," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls."Back home, investors reacted to July Wholesale Price Index (WPI)-based inflation data, which surged to 1.8 per cent from 0.9 per cent reported in June.
Asian stocks bounced back after three losing sessions, although broader sentiment was tempered by continued tensions between the United States and North Korea," Desai added.All the sub-indices on the BSE ended in the green, barring the IT index, which fell by 57.64 points, and the Teck (technology, media and entertainment) index by 22.88 points. The S&P BSE metal index augmented by 433.49 points, followed by the consumer durables index by 432.96 points, and the capital goods index by 349.96 points.Major Sensex gainers on Monday were: Cipla, up 5.03 per cent at Rs 570; Sun Pharma, up 4.70 per cent at Rs 472.50; Tata Steel, up 4.21 per cent at Rs 621.25; Adani Ports, up 3.07 per cent at Rs 395.70; and Hero MotoCorp, up 2.85 per cent at Rs 3,954.15.Major Sensex losers were: Bharti Airtel, down 1.47 per cent at Rs 408.55; Tata Consultancy Services, down 1 per cent at Rs 2,469.15; State Bank of India, down 0.93 per cent at Rs 278.05; Kotak Bank, down 0.87 per cent at Rs 982.45; and Infosys, down 0.84 per cent at Rs 979.45.