Market Wrap: Sensex, Nifty snap two-day losing run; mid, smallcaps outperform; investors richer by a lakh crore in a day

News Snapshot:

Domestic equity benchmarks the Senex and the Nifty snapped their two-day losing run on Monday on gains in select heavyweights, including HDFC Bank , Larsen & Toubro and Mahindra & Mahindra amid largely positive global cues after China announced steps to give a boost to its market. China cut the stamp duty on stock trading by fifty per cent, starting Monday. Besides, it also said it will slow the pace of initial public offerings (IPOs). The China Securities Regulatory Commission (CSRC) has cited recent market conditions as its rationale for slowing the pace of IPOs. Global markets witnessed gains after...