Mumbai, Dec 14 (IANS) Volatility prevailed at the Indian equity markets on Monday, even as a barometer index provisionally closed the day’s trade with gains of 111 points.
Initially, both the bellwether indices of the Indian equity markets opened on a negative note in sync with their Asian peers and concerns about the parliamentary logjam that has hindered the passage of key economic legislations.
Nevertheless, both the indices soon rose on the back of healthy figures for the index of industrial production (IIP) which were released after market hours on last Friday.
However, the choppy session weighed on markets which ceded their gains, as investors were spooked ahead of the release of retail inflation data and the upcoming US Federal Reserves’ FOMC (Federal Open Market Committee) meet slated for Wednesday.
The FOMC will decide whether or not to raise interest rates in the US.
Notwithstanding the downward trajectory, markets again rose on the back of value buying.
The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) provisionally closed the day’s trade up by 111 points.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) provisionally closed in the green. It was higher by 48 points or 0.63 percent at 7,658.10 points.
The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 24,935.60 points, provisionally closed at 25,155.78 points (at 3.30 p.m.) — up 111.35 points or 0.44 percent from the previous day’s close at 25,044.43 points.
The Sensex touched a high of 25,194.15 points and a low of 24,867.73 points during the intra-day trade.