Markets end in green amid volatility

Mumbai: Benchmark indices Sensex and Nifty managed to close with gains after a volatile session on Monday as positive sentiment reflected on domestic bourses after a breakthrough in US-China trade talks.

After swinging 448 points during the day, the 30-share Sensex ended 87.39 points, or 0.23 per cent, higher at 38,214.47. It hit an intra-day high of 38,513.69 and a low of 38,066.13. Likewise, the NSE Nifty moved up 36.10 points, or 0.32 per cent, to 11,341.15.

Gains on the benchmark gauges were restricted by cautious participants awaiting retail inflation data due after market hours.

Sectorally, BSE telecom, realty, auto, oil and gas, metal, basic materials, healthcare and energy indices rallied up to 2.24 per cent.

While BSE IT, teck, power and capital goods indices fell up to 0.90 per cent. Broader BSE midcap and smallcap indices too advanced up to 0.44 per cent.

Market sentiment, however, remained volatile amid concerns over an economic slowdown after the World Bank said India's growth rate is projected to fall to 6 per cent after a broad-based deceleration in the initial quarters of this fiscal year.

Meanwhile, the Indian rupee depreciated 20 paise to close at 71.23 against the US dollar. Brent crude futures, the global oil benchmark, plunged 2.26 per cent to $59.14 per barrel.

Asian stocks rallied on news that the US had reached a "very substantial" Phase 1 trade deal with China. Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended significantly higher.