Nifty, Sensex End Flat; Rally In PSU Banks

The Indian stock market displayed a mixed trade in the Monday trading session. Benchmark indices Nifty and Sensex ended flat despite a positive start in the early session.

The National Stock Exchange (NSE) Nifty 50 index ended almost flat at 24,836 whereas the S&P Bombay Stock Exchange (BSE) Sensex settled 23 points or 0.03 per cent higher at 81,355 levels on the closing bell. 

Nifty Moves

In the Nifty 50 index, 25 stocks advanced in the positive territory and 25 stocks ended in the red territory.

Among the winners, Divis Labs, BPCL and Larsen and Toubro ended more than 2.5 per cent higher. 

Among the losers, Titan and Bharti Airtel lost more than 2 per cent followed by 1.34 per cent and 1.22 per cent loss in Cipla and ITC respectively.

Analyst Note 

“While benchmark indices hit fresh intraday life-time highs and Nifty almost touched the 25,000 mark, most of the gains were lost and markets ended off their highs amid profit-taking in IT and telecom stocks. Going ahead, global market direction and corporate earnings will dictate the trend,” said Prashanth Tapse, Senior Research Analyst, Mehta Equities.

Sectoral Movement

In terms of sectoral performance, Nifty Bank rose 0.22 and Financial Services ended red, while PSU Banks surged 2.25 per cent. 

Auto, Metal and Pharma ended in the green territory, while Nifty Realty rose 1.43 per cent. IT and FMCG suffered losses.

The more domestically focussed indices, Mid-cap and Small cap ended higher with 1.03 per cent and 1 per cent gain respectively.