Markets opened on weaker note on the first day of the week giving an impression of a tough week ahead. Within minutes of being down, markets recovered sharply with major indices recovering smartly in the early hours of the trade only to erase gains in the afternoon.
NSE Nifty gained 42.15 points at 8391.50, while BSE Sensex was up 82.84 points to close at 27117.34.
Markets in Europe were lower today after US President Donald Trump took office and promised to pursue a protectionist policy. France’s CAC, Germany’s DAX and Britain’s FTSE were up around 0.4 percent at the time of writing this article. Asia ended mixed.
GAIL remained the top gainer throughout the day with BSE Oil & Gas remaining one of the best sectoral performers.
Gail managed to close up by more than 2.4% at Rs 470 per share. Grasim, IDEA, Zee Entertainment were major index (Nifty) gainers. Larson & Toubro, Axis Bank, RIL and ICICI bank were the major Index losers on Monday.
BSE Metal Index remained the best performer with stocks like SAIL , Hindalco and Nalco closing up by more than 5%. Healthcare, Telecom and Capital Goods were the three sectors that underperformed in today’s trade.
Akshar Chem: The stock closes at its 52-w high even as the company announces major capex plans for coming
ICICI Bank: The stock reeled under selling pressure as the NPA provisioning is expected to take a toll on quarterly earnings for the bank.
Titan: The stock saw OI spurt and fresh long built up in positions.
Lupin gained 1.2 percent as the pharma major has received final approval for its Paroxetin extended release tablets that are used for the treatment of major depressive disorder, panic disorder, social anxiety disorder and premenstrual dysphoric disorder.
Hindustan Unilever was up 0.25 percent. After market hours, the company said profit in Q3 increased 7 percent year-on-year on one-time gain but margin and volume growth (at -4 percent) disappointed analysts.
The rupee was trading at 68.20 per US dollar.
The broader markets also traded in line with benchmarks. About 1610 shares advanced against 1137 declining shares on the BSE.
Top 5 Nifty Gainers: GAIL (2.23%), Tata Motors (1.88%), HDFC (1.88%), Hero Motocorp (1.55%), and Tata Steel (1.42%).
Top 5 Nifty Losers: ICICI Bank (-2.18%), L&T (-1.59%), Axis Bank (-1.22%), Sun Pharma (-1.08%) and Reliance Ind. (-0.70%)
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