Indian markets remained mum for the whole day after a positive start. Nifty and Sensex opened on a positive note taking positive cues from US and Asian markets, but remained range bound and finally closed with marginal losses of 0.1% and 0.12% respectively.
NSE Nifty closed with a loss of eight points at 8,236, while BSE Sensex ended with a loss of 33 points at 26,727.
On the global front, Asian markets rose on Monday tracking strong closure from the main three indices of Wall Street. The Markets remained buoyed post US jobs data and ahead of policy measures under the reign of newly elected President Trump. China was moderately higher by 0.5% led by rise in defence stocks while Hang Seng rose 0.25%.
European markets opened lower where investors remained cautious ahead of fresh data from euro zone and volatile energy stocks. However, UK’s FTSE 100 remained up with 0.22% gains amid fall in UK pound.
Going forward our view on Nifty remains intact where we hold 8240-8250 as the immediate resistance followed by the 8300 mark. While on the downside 8230-8200 will act as immediate support followed by 8100.
HCL Technologies was the top gainer while Dr Reddy remained the top loser for the Nifty.
Dr Reddy: The stock is down by 3% on Monday.
TCS: The IT bellwether’s stocks gained bucking the trend for past the few sessions. The stock was up by 1.29% at close of trade.
ITC: ITC crossed its 100-DMA in today’s session and closed up by 1.30% at Rs 245.80 per share on closing basis.
Tata Motors: The stocks sizzled on a dull day for markets by inching up by 0.51% and closing at Rs 500 per share.
Tata Steel: The stock inched up on Monday based on positive sentiment for the steel manufacturer with the steel companies expected to increase the prices for steel in the coming year.
The rupee was trading at 68.19 against the US dollar.
Out of 1,917 stocks traded on the NSE, 607 declined, 933 advanced and 377 remained unchanged today.
Top 5 Nifty Gainers: TCS (1.09%), ITC Ltd. (0.99%), BHEL (0.95%), Maruti Suzuki (0.75%) and Tata Motors (0.62%).
Top 5 Nifty Losers: Dr. Reddys Lab (-3.08%), ONGC (-2.30%), M&M (-1.78%), Coal India (-1.73%) and Asian Paints (-1.69%)
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