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Equities close margilly higher

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  21 Nov 2017 12:00 AM GMT

Mumbai, Nov 20: After remaining rangebound for most of the day, key Indian equity indices — the BSE Sensex and NSE Nifty50 — closed on a flat-to-positive note on Monday, with healthy buying witnessed in metals, oil and gas, and auto stocks.

According to market observers, selling pressure in IT, banking and Teck stocks, along with subdued global cues and outflow of foreign funds, trimmed gains.

The wider Nifty50 of the tiol Stock Exchange (NSE) closed higher by 15.15 points or 0.15 per cent to close at 10,298.75 points. The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,359.90 points — up 17.10 points or 0.05 per cent — from Friday’s close.

However, the BSE market breadth was bullish — 1,615 advances and 1,041 declines.

“Markets ended with margil gains on Monday after a largely range bound session. The Nifty swung between gains and losses in a rrow range throughout the session,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS. “The index nevertheless ended with gains for the third straight day, indicating a positive bias,” said Jasani.

In terms of the broader markets, the BSE mid-cap closed higher by 0.63 per cent and the small-cap index by 0.81 per cent.

“Major Asian markets have ended on a mixed note, while European indices like FTSE 100 and DAX traded lower,” Jasani said, adding: “Technically, with the Nifty moving up further after the smart bounce back seen late last week, the underlying bias remains positive.”

On the currency front, the rupee weakened by 10-11 paise to 65.11 against the US dollar from its previous close at 65.01-02.

Provisiol data with the exchanges showed that foreign institutiol investors sold scrips worth Rs 358.74 crore, while domestic institutiol investors purchased scrips worth Rs 613 crore.

Vinod ir, Head of Research, Geojit Fincial Services: “Market was flat today post the strong gap-up in the last trading day fuelled by sovereign rating upgrade.”

“Market may maintain its volatility till it attempt to rrow the gap and given the subdued global market as seen today,” added ir.

Sectorwise, the S&P BSE metal index surged by 189.68 points, followed by oil and gas index by 99.23 points and auto index by 76.47 points. On the other hand, the S&P BSE IT index fell by 44.31 points, banking index by 20.90 points and Teck index by 13.91 points. Major Sensex gainers on Monday were: Coal India, up 1.98 per cent at Rs 278.25; NTPC, up 1.52 per cent at Rs 180.15; ONGC, up 1.41 per cent at Rs 180; Kotak Bank, up 1.30 per cent at Rs 1,037.40; and Reliance Industries, up 1.01 per cent at Rs 918.85.

Major Sensex losers were: Dr. Reddy’s Lab, down 2.05 per cent at Rs 2,277.30; ICICI Bank, down 2.03 per cent at Rs 318.50; State Bank of India, down 1.29 per cent at Rs 333.05; Cipla, down 0.99 per cent at Rs 602.60; and Infosys, down 0.99 per cent at Rs 961.35. (IANS)

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