Equity indices recover to end at record closing highs

Key Indian equity indices recovered by the end of the day's trade on Monday to settle at record closing levels, after a largely subdued trade for most part of the session.
The BSE Sensex closed at 52,551.53, higher by 76.77 points, or 0.15 per cent, from its previous close of 52,474.76.

It had opened at 52,492.34 and touched an intra-day high 52,590.92 and a low of 51,936.31 points.

The Nifty50 on the National Stock Exchange was closed at 15,811.85, higher by 12.50 points, or 0.08 per cent, from its previous close.

Motilal Oswal Financial Services's Head, Retail Research, Siddhartha Khemka, said: "Globally, markets remained positive in the prospect of a broadening economic recovery from the coronavirus pandemic and in anticipation of continuity in dovish monetary policy from the US Federal Reserve, due later this week. Oil stood at multi-year highs. European shares hit a record high."

On domestic front, benchmark indices recovered smartly from the intraday lows and ended marginally higher in the volatile session after buying emerged in heavyweights such as Reliance Industries, Infosys and Bajaj Finance, he said.

He added that the further direction of the domestic markets would depend on the monsoon, the opening up of the economy in a phased manner, and the pace of vaccination going forward.-IANS