The Sensex closed Monday’s trade at 35,264.41 points, down 159.07 points or 0.45% from its Friday’s close. The Nifty settled above the 10,650-level, closing 57 points or 0.53% lower at 10,657.30 points. Negative global cues, along with continuous outflow of foreign funds, hampered investors’ risk-taking appetite. However, strong buying in shares of IT majors Infosys and TCS, along with other blue-chips like Asian Paints, Vedanta, Bajaj Auto, ICICI Bank, Sun Pharma, Axis Bank trimmed losses of benchmark Sensex, which recovered over 150 points from its day’s low.
“Nifty commenced the day against all odds as selling pressure intensified right from the word go. It did respect the 10600 support which has witnessed highest PE OI built up at the beginning of the series & saw some recovery in the latter half of the day. Going ahead any slippages below 10,600 could trigger the confidence of PE writers and push the index lower towards 10,500-10,440 zone,” Sacchitanand Uttekar, Assistant Vice-President, Research at Tradebulls, told FE Online.
Shares of RITES marked a blockbuster stock market debut on Monday with share price rallying more than 11% on listing on BSE and NSE after the state-owned construction and engineering firm successfully concluded its Rs 460 crore IPO in June. The shares of Fine Organic listed at Rs 815 on NSE, implying a premium of 4.08% from the issue price of Rs 783.