Mumbai, July 2
The markets staged a smart recovery as investors looking for value began to buy scrips in realty and banking sector which were badly hammered down over the past several trading sessions.
The BSE benchmark index, Sensex, was up 703 points or 5.4 per cent to close at 13,664 points. In the broader markets, the Nifty advanced to 4,093 levels, gaining 196 points or 5.1 per cent at close.
According to analysts, buyers included domestic mutual funds and FIIs, who have been net sellers to the tune of $6 billion since January this year. Among the major gainers today included stocks in the realty, banking, metal, capital goods and IT sectors.
Market sentiment overall continues to be bearish despite the Indian corporate sector showing continued signs of good performance. Analysts say, the advance tax paid by companies continue to be encouraging and good monsoons have been
predicted.
