The benchmark equity indices -- Sensex and Nifty -- ended on a mixed note on Monday amid the losses in auto and private bank stocks offsetting surge in telecom shares.
The benchmark equity indices — Sensex and Nifty — ended on a mixed note on Monday amid the losses in auto and private bank stocks offsetting surge in telecom shares. While BSE ended marginally higher by 8.36 points or 0.02 per cent at 40,802.17, the broader NSE Nifty closed 7.85 points or 0.07 per cent down at 12,048.20. On the Sensex, Bharti Airtel emerged as the biggest gainer, followed by Reliance, Asian Paints, Kotak Bank, and IndusInd Bank. On the other hand, YES Bank was the biggest loser in the pack, followed by Bajaj Finance, ONGC, Sun Pharma, Tata Steel, and Maruti. YES Bank dropped most since November 13 as brokerages say the quality of investors remains a concern.
“The weak Q2GDP data and subdued auto sales numbers is likely to impact the investor sentiments in the short term. All eyes will now be on RBI monetary policy for economic revival measures going forward. On the global front, investors are eagerly awaiting a positive outcome of the US-China trade negotiations which could strengthen the rally in the global markets. In addition, currency and crude price movement will continue to impact investor sentiments,” Ajit Mishra, VP – Research, Religare Broking said.
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“Nifty remained flat and closed flat for 5 consecutive session now. Index has formed a range of 12000-12150 and till this range is broken on either side the market will continue to remain sideways. Traders can trade in stock specific movements. For the index one can trade the range by buying near the lower end and selling at higher end of the range or look to wait for breakout on either side to get into the momentum and short-term direction. Overall the index is bullish and once crosses above 12,150 it can move swiftly till 12400,” Amit Shah, Technical Research Analyst with Indiabulls Ventures said,” Amit Shah, Technical Research Analyst with Indiabulls Ventures said.