Stock markets closed: Stock markets closed in the green, major indices rose due to buying in big companies
Mumbai. Selling dominated the domestic stock markets on Monday amid negative signals from abroad, although the major indices closed in the green due to subsequent buying in big companies. BSE Sensex rose 77.05 points (0.10 percent) to 75,315.04. The Nifty-50 index of the National Stock Exchange also stood at 23,649.95, up 6.45 points or 0.03 percent after being in the red for almost the whole day.
The ongoing weakness of the rupee against the dollar and the rise in international crude oil prices have weakened the investment sentiment in the market. The rupee today slipped by 58 paise to a historic low of 96.39 per dollar in the interbank currency market. At the same time, crude oil rose by one percent and crossed $ 110 per barrel. The Sensex opened with a fall of 430 points and in the morning itself fell 1,057 points to 74,180.26.
However, due to the buying that took place within half an hour, the index regained its momentum. There was strong selling in the macro market. Nifty Midcap-50 index fell 0.07 percent and Smallcap-100 index fell 1.26 percent. Meanwhile, there was tremendous growth in the IT sector and its index rose by 2.43 percent. Pharma, health and private banks groups also witnessed gains.
Indices of public sector banks, consumer durables, auto, oil and gas, metals and media groups declined. Among Sensex companies, Tech Mahindra’s shares closed with a gain of about four and a half percent and Infosys’ shares closed with a gain of more than two percent. Shares of Bharti Airtel, Bajaj Finserv, Sun Pharma, HCL Technologies and Bajaj Finance rose one to two per cent.
Shares of TCS, Kotak Mahindra Bank, Titan, BEL, UltraTech Cement and ICICI Bank also remained in the green. There was a decline of about three and a quarter percent in Tata Steel and more than three percent in Power Grid. The shares of State Bank of India are down by more than two and a quarter percent. Shares of NTPC, Trent, Maruti Suzuki and Mahindra & Mahindra fell by one to two percent. Shares of Indigo, Hindustan Unilever and Axis Bank closed down.
Comments are closed.