The stock markets made a mild recovery in the afternoon trade on Monday. Sensex ended 156.28 points lower at 35,853.56 while Nifty closed 57.35 points lower at 10,737.60. Jet Airways share price zoomed by more than 17% intra-day to Rs 297. D-mart shares ended 11% lower at Rs 1,395.75.
Asian shares turned down on Monday as China trade data started trickling in and as investors looked to key corporate earnings later in the week to take the pulse of a cooling global economy. Falling energy shares late on Friday jeopardized continuation of Wall Street’s five-session rally as investors looked ahead to earnings season, which will kick off with Citigroup, JPMorgan and other big banks this week. Underpinned by optimism over China-U.S. trade talks and expectations of a slow pace of interest rate hikes from the Federal Reserve, the stock market’s recent winning streak added 6 percent to the S&P 500 and left it up about 10 percent from the 20-month low it hit around Christmas.