Stock Market Today: The stock market returned to the uptrend on Monday and the BSE Sensex recovered from the low level and was up by more than 375 points. The market was in an uptrend mainly due to the rise in the shares of ICICI Bank, HUL, and HDFC Bank. The decline that was continuing for the last four trading sessions in the 30-share Sensex came to an end and it closed at 81,559.54 points with a gain of 375.61 points or 0.46 percent. The index opened with a decline and at one time came down to the low level of 80,895.05 points. Later it gained momentum and jumped by 469.43 points.

These stocks rose

The three-day decline in the National Stock Exchange's Nifty stopped and it closed at 24,936.40 points with a gain of 84.25 points or 0.34 percent. Among the 30 companies of Sensex, Hindustan Unilever, ICICI Bank, ITC, Kotak Mahindra Bank, IndusInd Bank, Axis Bank, UltraTech Cement, and HDFC Bank were the biggest gainers. On the other hand, the stocks that remained in loss include Tech Mahindra, Tata Steel, NTPC, Tata Motors, Power Grid, and Titan.

Markets surge amid fears of recession

Vinod Nair, Head of Research, at Geojit Financial Services, said that despite a weak global trend, the domestic market gained momentum. The market is currently trying to stabilize amid fears of a policy rate cut and recession in the US. In other Asian markets, South Korea's Kospi, Japan's Nikkei, China's Shanghai Composite, and Hong Kong's Hang Seng were in losses.

According to stock market data, foreign institutional investors sold shares worth Rs 620.95 crore on Friday. Global oil benchmark Brent crude rose 1.13 percent to $ 71.84 per barrel. The BSE Sensex fell 1,017.23 points on Friday while the NSE Nifty lost 292.95 points.