Market Reverses Loss To End In Green; FMCG, Auto Run
In the Nifty50 index, 27 stocks advance with gains and 22 stocks end in the red territory, while Wipro remains unchanged
Dalal Street displayed a comeback in the week’s first trading session despite the initial shocks. However, the sectoral indices ended on a mixed note of green and red.
The National Stock Exchange (NSE) Nifty 50 index ended 0.16 per cent higher at 23,537 whereas the S&P Bombay Stock Exchange (BSE) Sensex settled 131 points higher at 77,341 levels on the closing bell.
Nifty Moves
In the Nifty50 index, 27 stocks advanced with gains and 22 stocks ended in the red territory, while Wipro remained unchanged.
Mahindra & Mahindra topped the index with 2.67 per cent gain, while Power Grid and Shriram Finance gained 2.15 per cent each. Grasim Industries, Sun Pharma and Tata Consumers traded 1.5 per cent higher.
In the laggard segment, Cipla lost 2.41 per cent after the US FDA made six observations for its Goa facility. IndusInd Bank also lost 2.41 per cent. Adani Ports, Coal India and Tata Steel traded with more than 1 per cent loss.
Analyst Note
“Markets stayed volatile ahead of this week's monthly expiry, as key benchmark indices ended with modest gains after a sharp fall in early trades amid selective buying in auto, power and capital goods shares while selling in IT, metal and oil & gas pared gains. Stocks may see sharp gyrating during the week investors would resort to value buying in select counters,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Sectoral Movement
In terms of sectoral performance, Auto gained 0.87 per cent, while FMCG gained 0.72 per cent. Bank Nifty remained dull and PSU Banks lost 0.66 per cent.
Metal index lost 0.64 per cent, while IT and Pharma lost 0.16 per cent and 0.04 per cent.
The more domestically focussed indices, Mid-cap gained 0.27 per cent, however Small cap ended flat.
