The Indian stock market responded smartly to the Greece-EU bailout deal by rising over one per cent through the day after a flat start. Benchmark indices Sensex gained 300 points on Monday to close at 27,961.19 while the Nifty moved up 100 points to end at 8,459.65.

All major sectoral indices, except capital goods, ended in the green while mid- and small-cap stocks outdid their bigger counterparts. Foreign investors bought net equities worth ₹527.98 crore while domestic institutional investors sold net equities for ₹171.55 crore.

Retail investors on the BSE were net sellers to the tune of ₹46.85 crore. Volatility index India Vix fell 4.67 per cent to end at 16.2725.

While the spillover effect from Greece will be minimal, Dhananjay Sinha, Head of Research, Emkay Global Financial Services, believes Chinese recovery and local factors will have a more definitive impact on Indian markets.

Related Topics