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The benchmark indices rose on Monday following the good run that the US and European markets had on Friday. FIIs continued to be net buyers for the second session in a row buying up shares for Rs 113.43 crore in the net.
The Nifty was up 1.38 per cent (65 points) and closed at 4779 while the Sensex gained 1.47 per cent (232 points) to close at 15970.75.
“The relief rally is expected to continue until Wednesday after which there could be some profit-booking ahead of the F&O expiry on Thursday,” said the head of an Indian brokerage.
Most markets worldwide were closed on Monday on account of Christmas.
“The market was oversold and at these levels, it is technically a buying indication. The US markets are recovering and we are expected to see a positive rally in the coming days,” said Mr Alex Mathew, Head of Research, Geojit BNP Paribas Financial Services.
Volatility decreased 3 per cent and the India VIX ended the day at 26.6.
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