The domestic equity market on Monday showed some signs recovery on the backdrop of positive news from the Asian bourses.
The 30-share Sensex managed to close above the psychological 15K at 15,014.96 points, gaining 146.71 points or 0.99%. Though the markets managed to close on a positive note, Monday?s trading was marked by high volatility with the benchmark index swinging by 180 points. After opening the day with an upward gap of 97.4 points at 14,965.65 points, the Sensex touched an intra-day low of 14,869.15 points and then swung upwards to an intra-day high of 15,044.74 points. The Nifty, on the other hand, ended the day at 4,373.65 points, gaining 0.93% or 40.3 points. The Nifty August Futures series closed at 4,360 with a discount narrowing down to 13.65 points which market experts attribute to short covering in the derivative segment. The interesting apsect of the Monday?s trading was that the total turnover and volume in both NSE and BSE dipped to Rs 8,257.86 crore when compared with Rs 11,288.27 crore registered on Friday, indicating that market is moving on select few stocks. This, according to experts, is not a healthy sign for the market.
