Indian Market Recovering From 15 Month Low
Indian stocks are at a 15- month- low. On one hand Investors are scared by the global slump, while on the other hand, the 15 –month- low market is attracting them.
Sensitive Index of Bombay Stock Exchange (BSE) surged 200.84 points or by 1.2% - to 16343.51. The market has continuously been suffering losses since the past one month. It’s the longest four week loss run since the collapse of Lehman Brothers Holdings in October 2008. The market was down 4.1% last week.
Nifty rose 1.1% to 4,898.80 and August futures settled at 4914 whereas BSE 200 Index was down by 1.3%.
Investors might have been feared by the recent international slump driven by the melting of the equity market. The market reached lowest since May last year. The broad-based National Stock gained 53.15 points and settled to
Reliance Industries Ltd, surged most, ONGC (Oil and Natural Gas Corp), on the other hand, jumped by 3.6 %. Further, JPA (Jai Prakash Associates Ltd.) accumulated 5.7%.
BSE gained some points today over the positive flow of the European markets. The markets sentiments flew favor and brought the strong stocks at the upper level.
In European markets, London and Paris followed an upward trend.