MUMBAI: After a five-session slide, the sensex made a strong recovery on Tuesday with a 367-point rally to close at 57,858. Initially, it hit an intraday low of 56,410 after which bargain hunting at lower levels lifted the index and this improved investor sentiment a bit.
However, traders were keeping their fingers crossed as the US markets continued to slide later in the evening. The Indian markets are closed on Wednesday. So, when local markets open on Thursday, traders here will have to account for two trading sessions outside of India.
The session started on an extremely bearish note and the sensex dipped to the day’s low, but soon the recovery started. After some volatility, the index finally closed in the green after five sessions of ending deep in the red. Tuesday’s gains came despite a Rs 7,095-crore net selling by foreign funds, while local institutions were net buyers at Rs 4,544 crore. So far this month, foreign funds have net sold over Rs 22,100 crore (nearly $3 billion), BSE and CDSL data showed.
However, traders were keeping their fingers crossed as the US markets continued to slide later in the evening. The Indian markets are closed on Wednesday. So, when local markets open on Thursday, traders here will have to account for two trading sessions outside of India.
The session started on an extremely bearish note and the sensex dipped to the day’s low, but soon the recovery started. After some volatility, the index finally closed in the green after five sessions of ending deep in the red. Tuesday’s gains came despite a Rs 7,095-crore net selling by foreign funds, while local institutions were net buyers at Rs 4,544 crore. So far this month, foreign funds have net sold over Rs 22,100 crore (nearly $3 billion), BSE and CDSL data showed.
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