Indian Stock Markets staged smart recovery

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The stock markets in India closed with handsome gains in today's session after trading with deep losses in the morning. Sensex recovered more than 300 points from the low point of the day. Positive opening of Europe provided triggers to the markets and the rally was mostly driven by interest rate sensitive sectors like realty, banking and auto.

IT also closed with significant gains and oil & gas and consumer durables, too, provided support to the indices. Capital goods and FMCG were the only two sectors that closed negative.  

The Sensex closed at 16877, up 167 points from its previous close, and the Nifty shut shop at 5076, up 63 points. The CNX Midcap index closed with 1.1%. The market breadth was positive with advances at 802 against declines of 624 on the NSE.

The top Nifty gainers were Tata Motors, GAIL, DLF and SBI while the biggest losers included BHEL, L & T, Tata Steel and HUL.

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