Recovering global along with boosted morale of Indian investors saw the Indian markets ending the day up. The BSE Sensex closing at 17813 was up 1.3 per cent. The NSE Nifty was also up 1.3 per cent and ended the day at 5429.
Market analysts say that the global markets after a slump last week saw a sharp recovery at Monday’s close and Tuesday’s opening. This was reflected in the Indian markets which also opened up with a gap of 92 points. “The IIP numbers announced yesterday were good. Also, investors feel that the government may take certain measures to tackle the issues regarding the capital goods, infrastructure and power sector. The market is expected to be in a range and not too volatile till this Friday,” said Mr. Sailav Kaji, Director-Institutional Equities & Chief Strategies, Padmakshi Financial Services.
Majority of the US market indices were up by about one per cent at closing time on Monday. The European markets fared better and closed up more than one per cent. The Asian markets were also up on Tuesday’s trading.
Among the Sensex 30, stocks which closed above two per cent are Sterlite Industries, GAIL, Jindal Steel, ONGC, RIL, Hindalco, Tata Steel, Maruti and BHEL. Stocks which closed in the red include Wipro, Mahindra & Mahindra and Bajaj Auto.
India Vix was down 5.8 per cent.