Sensex, Nifty edge up in range-bound trading
Buying in auto, IT, energy and FMCG stocks amid a firm trend in European markets; Subdued performance by financials, IT and healthcare kept pressure on indices
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Gains For 7th Consecutive Session
- BSE Sensex ended 85.88 pts higher at 61,308.91
- NSE Nifty advanced 52.35 pts to 18,308.10
- Ultratech Cement top gainer in the Sensex pack
- M&M, Maruti, RIL, Airtel, Tata Steel, TCS, L&T, SBI and HUL gained
- HCL Tech, HDFC Bank, Axis Bank, Tech Mahindra, PowerGrid, and Sun Pharma among the laggards
- 2,297 stocks out of 3,739 trading scrips advanced while 1,308 stocks declined and 134 remained unchanged on BSE
- Equity segment clocks Rs5,484.11-cr turnover
Mumbai: Benchmark indices Sensex and Nifty edged higher on Monday following gains in IT, energy and auto stocks amid a firm trend in European markets. In a largely range-bound session, the 30-share BSE Sensex ended 85.88 points or 0.14 per cent higher at 61,308.91. As many as 19 of Sensex stocks advanced while 11 declined. The broader NSE Nifty rose by 52.35 points or 0.29 per cent to 18,308.10 points as 34 of its components advanced. Nifty opened flat, fell in the early trade and kept bouncing up from intraday falls before closing in the green.
"In a week guided by the release of various corporate earnings, domestic indices edged higher on a flat note led by consumer durables, energy and auto stocks. Asian markets were largely mixed post the release of China's 4th quarter GDP data reporting an expansion of 4 per cent YoY as Covid restrictions and property woes hit demand. Rising Covid cases globally continue to colour investor sentiments," said Vinod Nair, head (research) at Geojit Financial Services.
Narendra Solanki, head (equity research-fundamental), Anand Rathi Shares & Stock Brokers, adds that "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." "Auto stocks shined in a flat trading session on the back of price hikes, thrust on electric vehicles and ETF launches in the sector as the basket of stocks posted smart gains. The Commodity Index provided good support in afternoon trade buoyed by earnings," S Ranganathan, head (research) at LKP Securities, said.
