From The Economic Times · Kumar Gaurav · · 1m 10s
Market rebound: Dr Reddy's and JSW Steel lead gains
Indian stock markets rebounded Monday as Dr Reddy's and JSW Steel shares rose, lifting Nifty and Sensex from four-day losses.
In brief
Indian stock markets rebounded Monday as Dr Reddy's and JSW Steel shares rose, lifting Nifty and Sensex from four-day losses. Indian equity markets recovered 0.68% on Monday after four-day losing streak as Dr Reddy's and JSW Steel shares rose. Originally reported by The Economic Times.
Market rebound
Indian equity markets rebounded Monday, recovering nearly 2% from intraday lows to snap a four-day losing streak.
Indices gain
The Nifty 50 gained 153 points, or 0.68%, to close at 22,753, while the BSE Sensex advanced 483 points, or 0.66%, to settle at 73,607.
Broader markets rise
The Nifty Midcap 100 and Nifty Smallcap 100 indices rose more than 1% each, while 2,063 stocks closed in the green.
Volatility rises
The India VIX climbed nearly 2% to 17.14, with market breadth turning positive as 2,063 stocks traded in the green.
Technical view
Anand James, Chief Market Strategist at Geojit Investments, noted Friday’s long lower wick pointed to recovery attempts.
Market outlook
James said a push above 22,690 could confirm strength, while inability to float above 22,460 might signal a resumption of downsides.
The one thing
Indian equity markets recovered 0.68% on Monday after four-day losing streak as Dr Reddy's and JSW Steel shares rose.
