The Hindu Business Line : Markets stage partial recovery

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Mumbai March 6 Tracking the Asian markets again, domestic stocks staged a partial recovery on Tuesday, with the benchmark 30-share Sensex gaining 2.27 per cent and the broader 50-share S&P CNX Nifty gaining 2.21 per cent.

On Monday they had lost 3.66 per cent and 4.03 per cent respectively following the global sell-off that was ignited last week starting with the fall of the Chinese benchmark index on February 27.

"The behaviour of the market shows a herd mentality. At this point the market is moving on global cues," said Mr Parag Parikh, stockbroker and financial advisor. "Nothing has happened to corporate profits that things should change in a matter of a few days."

Trade was rather volatile though; the Sensex touched a high of 12,760.22 and a low of 12,427.13 before closing at 12,697.09. The CNX Nifty gained 79.15 points to close at 3,655.65.

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