Equity indices eke out slim gains in volatile session

THE BENCHMARK INDICES snapped their eight-day losing streak on Monday, and closed with modest gains amid high volatility.

- KISHOR KADAM

Despite plunging over 600 points in intra-day trade, the Sensex recovered all the losses and closed up 58 points at 75,996.86. The Nifty recovered from an intraday loss of over 200 points and closed at 22,959.50, gaining 30.25 points or 0.13%.

In the previous eight sessions leading up to February 14, the benchmark indices declined 2.35%, marking their longest losing streak in two years.

"Markets eked out modest gains in a late recovery in a highly volatile session, but most importantly, they managed to halt the eight-session losing streak. Positive cues from Asian and European indices aided the sentiment, while gains in select banking, oil & gas, metals and power stocks helped the benchmarks recover from their early lows," said Prashanth Tapse, senior VP (research), Mehta Equities.