INDIAN EQUITY MARKET RECOVERVED AFTER WITNESSING THEIR BIGGEST FALL IN THE PREVIOUS SESSION

Domestic equity market showed a positive sign on Monday after a biggest one day fall on Friday as the government data showed that India exited recession with economic growth of 0.4 per cent in December quarter. Positive global cues and US yields retreating from highs led to a strong opening today with Indices sustaining gains throughout the day. Net buying of FII/FPI was at Rs.125.15 crore while net selling of DII was at Rs.194.88 crore. At close, the Sensex gained 749.85 points, or 1.53 percent to 49,849.84 with shares of Powergrid, ONGC, Ultratech Cement, Asian Paint, Kotak Bank, Titan, HDFC, HCL Tech, L & T were having gains of 5.94%, 5.40%, 4.30%, 3.76%, 3.53%, 3.25%, 2.69%, 2.29%, 2.12% respectively while Bharti Airtel was the only loser with a loss of 4.45%.The Nifty fifty ended at 14,761.55, up 232.40 points, or 1.60 percent with indexes like Media, Auto, Energy, Metal, Bank, Pharma ,Realty were having gains of 4.31%, 2.38%, 1.95%,1.94%, 1.41%, 1.38%, 1.33% respectively.

TOP STOCKS IN NEWSCAST:

ONGC surged over 5% as the company is expected to benefit from rising crude prices, stemming from optimism over vaccination drives across the world and a pick-up in economic activity.

Kotak Bank rose over 3% as Kotak Bank and HDFC bank are to acquire 9.99 percent of the equity shareholding of Ferbine Private Limited.

HCL tech gained over 2% as the company has recently hit a $10.02 billion valuation milestone and will be hiring 20,000 employees in the coming months.