Strong recovery...Nifty regains 5900

The Indian markets showed resilience and recovered completely from their day’s low in the second half of the trading session. The BSE Sensex recovered nearly 350 points and the NSE Nifty recovered nearly 100 points from their intra-day lows. The strong upswing was led by the Realty, Power and the Metals stocks. Even the Mid-Cap and the Small-Cap stocks were in the limelight. Infact the broader indices outperformed the benchmark index.



"Markets did witness some selling pressure after the media reports stated that South Korea begun another week-long series of live-fire military exercises along most of its coastline, despite this the Indian markets demonstrated resilience. Technically, the NSE Nifty took support at the 100 DMA", says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex surged 183 points to close at 19,692 and the NSE Nifty rose 50 points to close at 5,908.

Among the BSE sectoral indices, the BSE Realty index was the top gainer the index gained 3%, followed by BSE Power index up 2% and the BSE Metal index gained 2%. The broader indices also ended in green, the BSE Mid-Cap index was up 1.9% and BSE Small-Cap index gained 2%.

The European indices were trading in the green, the DAX in Germany was up 0.6%, the CAC 40 index in France was up 0.6% and FTSE index was trading higher by 0.4%.