Closing Bells: Indian Benchmark Indicies Closed Monday Nearly Flat

The Indian benchmark indices have closed Monday nearly flat as they gave up the gains they made in the early part of the day. The financial stocks led to the curtailing of the gains that the indices had made in the initial trading hours on Monday. The cues received support from the metal, PSU and IT stocks over the day. 

The S&P BSE Sensex closed the day at 50,441.07 points. The index advanced by 0.071% or 35.75 points over the day. Among the 30 stocks that form the Sensex index, 16 of them advanced while the remaining 14 closed in the unfavourable terrain. L&T and ONGC emerged as the top gains in the index. Their share price moved ahead by 3.43% and 2.96%, respectively. 

HCL Tech and NTPC followed as their share price witnessed a positive movement of 2.22% and 1.66%, respectively. Axis Bank (+1.6%), Infosys (+1.54%), SBI (+1.5%) and Mahindra & Mahindra (+1.23%) are the other stocks whose share price closed over 1% higher on Monday.

Tech Mahindra, Sun Pharma, Reliance, Nestle India and Maruti saw their share price move forward by 0.94%, 0.64%, 0.55%, 0.46% and 0.17%, respectively, over the day. The other stocks to close the day in the green are Dr Reddy’s, TCS and PowerGrid. 

The NSE Nifty 50 closed Monday 18.10 points or 0.12% higher. It ended the day at 14,956.20 points. Among the 50 stocks that form the Nifty 50 index, only 12 ended the day in the positive terrain while the remaining 32 closed in the red. The gains in the index were led by the state-owned ONGC and GAIL, whose share price jumped by 2.70% and 2.55%, respectively. IndusInd Bank and Wipro lost the most among the Nifty 50 stocks. Their share price was reduced by 4.48% and 3.83%, respectively. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in

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