Sensex Climbs 86 Points, Nifty Above 18,300 Led By Gains in Auto, IT Stocks
Ultratech Cement was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI, and HUL
New Delhi: After a choppy session, the key Indian equity benchmarks settled in green on Monday, led by gains in IT and automobile sector.
The 30-share BSE Sensex rose 86 points to close at 61,309, while the broader NSE Nifty moved 52 points higher to finish at 18,308 in a largely range-bound session.
During the day, both the indices swung between gains and losses amid weakness in pharma and financial shares before settling on a positive note.
Ultratech Cement was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI, and HUL.
On the other hand, HCL Tech, HDFC Bank, Axis Bank, Tech Mahindra, PowerGrid, and Sun Pharma were among the laggards, falling up to 5.89 per cent.
Midcap and smallcap shares recorded gains as Nifty Midcap 100 index jumped 0.16 per cent and Nifty Smallcap 100 index soared 0.60 per cent.
Nine out of the 15 sector gauges, compiled by the NSE, settled in green. Nifty Auto outperformed the index by climbing as much as 2.05 per cent.
Indian markets opened marginally positive tracking mixed Asian market peers as data showed Chinese economy grew at 8.1 per cent in 2021, marginally lower than expectations of 8.4 per cent.
"During the afternoon session, markets showed some strength and traded in positive territory as traders were getting relief, as foreign portfolio investors (FPIs) reversed the three-month selling streak in January by investing a net Rs 3,117 crore in Indian markets. However, the gains were capped during the day due to subdued performance by financials, IT and healthcare, Narendra Solanki, head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers, said.
The rupee slipped by 9 paise to close at 74.24 (provisional) against the US dollar.
Elsewhere in Asia, bourses in Shanghai and Tokyo ended up, while Hong Kong and Seoul closed in the red. Stock exchanges in Europe were trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude slipped 0.26 per cent to $85.84 per barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth Rs 1,598.20 crore on Friday, according to stock exchange data.
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