The BSE Sensex and NSE Nifty ended on a flat note on Monday with marginal gains amid a lacklustre trade. The 30-share index closed 21.20 points up at 28082.34, while the 50-share index settled 11.20 points up at 8,708.80. Domestic equity markets will remain closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively.
Earlier, markets kicked off the day on a positive note with NITI Aayog Vice-Chairman Arvind Panagariya’s statement that India can become a $10 trillion economy in the next 15 years, from the existing $2 trillion, like China did in last one and a half decade.
Among the 51-components in the Nifty index, 28 stocks ended the day in green with Tata Steel gaining 3.14 per cent, followed by ACC (up 2.56 per cent), Asian Paints (up 2.23 per cent), Cipla (up 1.99 per cent) and Hindalco (up 1.93 per cent). On the other hand, Bharti Airtel, Reliance Industries, Adani Ports, NTPC and BPCL declined 1.22 per cent, 1.17 per cent, 1.07 per cent, 1.05 per cent and 0.97 per cent, respectively.
Anand James, chief market strategist, Geojit BNP Paribas Financial Services said, “Weaker than expected US jobs figures lent a positive bias at open, but investors looked to play it slow with the CPI and IIP numbers scheduled in the latter half of the week. The earnings season also gets active after the two day holidays and the expectations are at best modest. With so much to look ahead, few stocks made substantial moves, even though market breadth was positive. Meanwhile, potential for banks’ full transmission of RBI’s rate cut has kept investors reasonably optimistic about growth.”
Sectorwise, the BSE Consumer Durables index, Metal, IT, TECk and Healthcare index gained 1.69 per cent, 1.48 per cent, 1.05 per cent, 0.84 per cent and 0.52 per cent, respectively. The BSE Realty, Oil & Gas and Power slipped by 1.21 per cent, 0.59 per cent and 0.22 per cent, respectively.
Asian peers made a mixed closing on Monday, as oil prices retreated on doubts over oil producers reaching a meaningful output cut deal, which brought some speculators to unwind bullish bets. Markets in Japan, Hong Kong and Taiwan were closed for public holidays.