Indian stock indices rose substantially on Monday, defying a sharp downturn in the overnight US markets, possibly due to inherent strength in domestic market fundamentals.
Indian markets started the fresh week with a decline following weak global cues and a downturn in Asian markets. Globally, markets are under pressure as the Fed meeting date approaches and due to the slowdown in growth in Germany and the Chinese economy.
Indian stock indices took a sharp hit Friday, the last trading day of the current week, with all sectoral indices closing deep in the red. The sell-off was broad-based, with the banking and energy sectors taking the biggest hit.
Indian stock markets corrected sharply on Thursday amid global cues and FPI selling, as today marks the last day of the SEBI deadline for unregistered foreign investors to disclose beneficial owners.
Indian markets opened with gains on Thursday, despite selling pressure in major global stock markets. Both indices registered marginal increases at the opening.
Indian stock indices closed Wednesday's trade marginally in the red, mirroring weak cues from the US markets and along with weakness in domestic IT and PSU bank stocks. Profit booking at higher levels also dented the stock indices.
The Indian equity market on Tuesday opened flat note. The Benchmark indices BSE sensex opened at 82,652.69, up by 92.85, and Nifty at at 25313.40, up by 34.70.