Markets bounce back on better US growth prospects - Hindu Business Line

The BSE Sensex more than made up for the 492 points (3.01 per cent) decline it saw through the whole of last week, by climbing up more than 600 points intra-day on Monday.

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Analysts said that a bounce-back in the market was expected after the fall through whole of last week. “The markets had been falling severely without rationale. What we call hot money or the hedge fund money today came into the market in a concerted way. Most of the short-covering positions have been compelled to go long. However, volumes have been very thin,” said Mr Prakash Diwan, Head of Institutional Client Group, Asit C Mehta Investment Intermediates. The Sensex ended the trade on Monday at 16,416.33, up 567.50 points (3.58 per cent) from its previous close of 15,848.83. The Nifty was up 3.6 per cent or 171.80 points to close at 4919.60.

Markets bounce back on better US growth prospects - Hindu Business Line