Headline indices the Sensex and the Nifty ended in the green for the third consecutive session on May 21, supported by gains in heavyweights such as ITC, TCS, Asian Paints, Maruti Suzuki and Reliance Industries.
The market witnessed mild bouts of volatility due to weekly F&O expiry. Eventually, the Sensex closed the day 114 points, or 0.37 percent, higher at 30,932.90 while Nifty finished with a gain of 40 points, or 0.44 percent, at 9,106.25.
Broader markets outperformed the benchmarks. The BSE Midcap and Smallcap indices settled 0.76 percent and 0.72 percent higher, respectively.
The Indian market traded in the green despite weak global cues. Market experts say that the signs of easing of lockdown after the government's go-ahead to domestic airlines to resume operations may have influenced the sentiment.
However, the market is expected to trade in a range during the coming sessions until further directions from the government about the lockdown.
Ajit Mishra, VP- Research, Religare Broking, is of the view that even though the government has allowed certain economic activities in the fourth phase of the lockdown, it would take time to boost the sentiment on the ground.
If coronavirus cases continue to rise, it would be difficult for the government to further ease the lockdown, which may again derail the possibility of a sustained recovery.
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