Markets open higher; Sensex up over 200 points, Nifty above 10500

Stay with winners! Sensex loses 1000 points in a week; top 40 stocks which rose up to 30%

Stay with winners! Sensex loses 1000 points in a week; top 40 stocks which rose up to 30%

The wider Nifty50 of the National Stock Exchange held the 10,500-mark and provisionally closed (at 3.30 p.m.) higher by 84.80 points or 0.81 per cent at 10,539.75 points.

Positive cues from global markets helped Indian shares recover from their biggest weekly losses since August on Monday.

On the macro front, the government will announce inflation data based on consumer price index (CPI) for January and industrial production data for December 2017 to be released after market hours today.

Tata Steel, Sun Pharma, and the Oil and Natural Gas Corporation were the top gainers on both Sensex and Nifty 50 on Monday.

SBI, however, dropped 2.85% following poor quarterly results. The stock closed 2.67% lower at 288 level.

In the S&P BSE 500 index Bajaj Electricals, HEG, Rain Industries, Fortis Healthcare, Jet Airways, 8K Miles, Shankara Building Products, SAIL, Polaris Consulting rose 10-20 percent in the week gone by. "At this steep correction, we think it is time to add some of the quality stocks like Himadri Chemical, Graphite, Rain industries in Chemicals sector which have corrected a lot and there is a huge potential left", Chirag Singhvi of KIFS Trade Capital told Moneycontrol.

The BSE market breadth was bullish as 2,024 stocks advanced as against 775 declines.

In terms of the broader markets, the S&P BSE mid-cap index edged higher by 1.31 per cent and the small-cap index by 1.60 per cent.

Wall Street's equity volatility gauge, the VIX - the spike in which had kicked off the ructions - was at 25.5 percent shortly after opening, versus Friday's 29 percent close.

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