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Markets recover. Nifty rises 1.4%

Markets have seen a sharp recovery after witnessing steep downfall in the previous week. The bourses opened higher on Monday morning, with Banking stocks leading the rally.

The NSE benchmark index Nifty has moved up by 1.4% at 6078, while the BSE Sensex has touched 20514, up by 300 points.

Earlier during the past week, Nifty had seen low levels of 5995. Today the indices are holding up right, with stocks mainly from Banking and Pharma sectors contributing to the gains.

ICICI Bank has topped the gainers list with 2.72% gains, while BPCL has followed with 2.5%. HDFC Bank has also moved up by 2.14%. PSU giant State Bank of India (SBIN) has moved up by 1.4%.

Stocks from the infrastructure & Capital goods space have also contributed to the rally. JP Associates is up by nearly 3%. LT is up by 2.4%.

Ranbaxy is up by 0.8%, while Sun Pharma has moved up by 1.5%.



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