Indian stocks open with marginal gains; volatility in equity market returns

Indian stock indices started Friday's trade with marginal gains after falling sharply the previous session. A broad-based sell-off in shares coupled with a weak economic growth outlook weighed on the investors' sentiment. At 9.31 a.m., Sensex traded at 58,879.35 points, up 112.76 points or 0.19 per cent, whereas Nifty traded at 17,579.45 points, up 36.65 points or 0.21 per cent. Among the Nifty 50 companies, 36 of them advanced and the rest 14 declined, National Stock Exchange data showed. “Market is back to a phase of high volatility. The recent resilience of the Indian market can be attributed largely to foreign institutional investors turning buyers. But this FII bullishness appears to be over in the near-term as evidenced by the FII sell figure of Rs 2,290 cr yesterday,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.