The domestic equity markets opened strong on Monday as experts point to improving sentiment driven by clarity on the India-US trade deal, supportive domestic factors and positive global cues.
Buying enthusiasm picked up later in the session as the Sensex climbed 266.47 points to settle at 83,580.40 while Nifty 50 advanced 50.90 points to close 25,693.70. Among the sectors, PSU Bank, IT, pharma slipped while FMCG oil & gas, consumer durables, Private Banks, realty rose.
The domestic equity benchmarks opened on a cautious note and slipped into the red on Friday as investors remained on the sidelines ahead of the outcome of the Reserve Bank of India's Monetary Policy Committee (MPC) meeting, amid weak global cues.
Indian stock indices settled lower on Thursday, with analysts attributing the decline to profit booking following the recent uptick after the announcement of the India-US trade deal.
The Indian stock markets entered a consolidation phase on Thursday, with benchmark indices Nifty and Sensex opening almost flat, while IT stocks remained under pressure and silver prices witnessed a sharp fall.
Domestic stock markets witnessed a return of selling pressure on Wednesday morning as global cues turned weak following a fresh escalation in tensions in the Middle East and sharp selling in big technology stocks in the United States.
At the time of closing, Sensex was at 83,739.75, up by 2072 points or 2.5 per cent, while Nifty was at 25,727, up by 639 points or 2.5 per cent. In terms of sectors, all the major indices traded in the green.
The domestic equity markets opened with a historic rally on Tuesday, surging sharply in early trade, supported by upbeat global cues following the announcement of a key India-US trade deal.
Indian stock indices recovered on Monday, though not entirely, after the Budget day nosedive, partly due to value buying and weakening global crude oil prices.
Domestic stock markets recovered from early losses and moved into positive territory in early trade on Monday after opening lower amid selling pressure triggered by the hike in Securities Transaction Tax (STT) announced in the Union Budget.