New Delhi: Markets opened in flat on Monday, however minutes into trading Sensex reversed trends and was trading 254 points or 0.43 higher to 60,100.20.

Last week, Investors lost Rs 15.78 lakh crore in four sessions, with the market capitalisation of BSE-listed companies standing at Rs 2,72,12,860.03 crore.

On Friday, the BSE Sensex plunged 981 points to end below the 60,000-mark following across-the-board selling on Friday amidst fear of another global pandemic wave being fanned by the surging COVID cases in China.

The 30-share BSE Sensex slumped 980.93 points or 1.61 per cent to settle at 59,845.29 — closing below the psychologically key 60,000-mark after October 28 this year. On similar lines, the broader NSE Nifty dropped 320.55 points or 1.77 per cent to end at 17,806.80.

Barring Titan, all Sensex stocks closed in the red, led by Tata Steel (down nearly 5 per cent), Tata Motors, SBI, Bajaj Finserv, Reliance Industries, Wipro, IndusInd Bank, Maruti Suzuki and L&T.

Puneet Maheshwari, Director- Upstox said, “This year India has seen modest growth. In July to September there were six major economies – Malaysia, Greece, the Philippines, Israel, Colombia and Argentina with growth higher than the 6.3 per cent which India achieved in the April to September quarter of this fiscal. Growth by the year end is unlikely to be vastly different. Few of the macroeconomic factors for this include inflation, fear of recession, volatile markets etc.”

“However, we witnessed some positivity after nearly two years of social, financial and economic uncertainty and we expect that with more financial power in the hands of citizens will lead to surging equity participation and a stronger economy in the coming years. According to reports, by 2027, India’s economy will rank third in the world, and by the end of the decade, its stock market will rank third. Economic growth will be more robust, equity participation will rise, and citizens will hold more financial sway. This is a very positive indication of where the future of India is headed,” he added. 

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