Nifty ends 21 points short of 10,400, Sensex mounts 33,788; Axis Bank up 3%, Videocon tumbles 6%

By: | Updated: April 9, 2018 4:09 PM

Indian stock markets settled little higher on Monday as shares of IT, media fell the most among the 11 sectors on NSE and more than half of the components of Nifty Next 50 index concluded in negative territory with Cummins India, Emami Ltd, Shriram Transport Finance dropping heavily.

During the day, NSE Nifty shuttled between 10,397.7 and 10,331.6. (Image: Wikimedia Commons)

Indian stock markets settled little higher on Monday as shares of IT, media fell the most among the 11 sectors on NSE and more than half of the components of Nifty Next 50 index concluded in negative territory with Cummins India, Emami Ltd, Shriram Transport Finance dropping heavily. Shares of IT companies plummeted on the Indian bourses on Monday with the stocks of the IT giants Infosys and Tata Consultancy Services being in the top 5 laggards on the BSE Sensex ahead of the onset of major corporate earnings beginning with Infosys on 13 April 2018. As many as 27 scrips of the Nifty Next 50 index ended in red with the heavyweight shares of companies such as Britannia, Aurobindo Pharma, SAIL, SBI Life Insurance Company, ACC, Ambuja Cements.

The benchmark Sensex gained 161.57 points or 0.48% to close at 33,788.54 while NSE Nifty added 47.75 points or 0.46% to wind the day at 10,379.35. Shares of Axis Bank topped the Sensex index rising as much as 3.44% to Rs 517.9 followed by the shares of M&M (up 2.15%), IndusInd Bank (up 1.9%), ITC (up 2.05%), Asian Paints (up 1.14%), ONGC (up 0.85%), Maruti Suzuki (up 0.91%), L&T (up 1.16%), HUL (up 1.18%) and HDFC Bank (up 0.8%).

Shares of Punjab National Bank was the biggest gainers among the Nifty PSU Bank index on Monday. The stock of PNB jumped 2.89% extending the gains finish at a one month high of Rs 105.1. Among the BSE Sensex, shares of Infosys (down 1.62%), Tata Motors (down 1.53%), Bharti Airtel (down 1.21%) and TCS (down 0.97%) were the biggest losers. Shares of Videocon tumbled as much as 6.09% to end at Rs 14.18 on BSE.

During the day, the S&P BSE Sensex hovered between the range of 33846.5 and 33578.91 whereas NSE Nifty shuttled between 10,397.7 and 10,331.60, respectively. Out of the 2,906 traded companies on BSE, 1,652 scrips ended in green, 1,071 in red and 183 companies closed on a flat note.

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