Indices Start the Shortened Week on a Flat Note
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The BSE Sensex ended Monday by losing 17 points (0.04%) to close at 41,558 points. The selling in IT and finance bellwethers have weighed in on the Indian markets today. The banking sector was the leading loser on Monday. ICICI Bank lost about 1%, which is the most by any stock while Nestle gained the most, it shot up by 1.5%.

The banking sector was the most significant contributor to the slide in the BSE Sensex. Axis Bank, ICICI Bank, Infosys and TCS were the top losers while Maruti, Bharti Airtel, HDFC Bank, and RIL extended the support to the index. 18 of the 30 stocks in the BSE Sensex shot up while 12 were reduced.

Sensex recorded its intraday high of 41,715 points while its lowest was 41,453 points. Out of the 2,767 firms being traded, 1,449 of them ended in positive terrain, whereas 1,124 of them declined while 194 of them did not see any change. On the other hand, the NSE Nifty 50 ended the day 0.12% or 15 points higher.

Also Read: Indian Stocks Likely to Remain Firm, Asian Indices Soar

Volatility index India recorded a spike of 3.5% on Monday. Coming to the broader market Nifty Smallcap index rose 0.6% to close at 5,792 points while the Nifty Midcap 100 rose by 0.37% to end at 17,070 points. 

The stocks of the auto sector saw the most significant advance as Nifty Auto index rose 1.5% to touch 8,329.50 points while all the stocks in the index closed in the green. Metal stocks had a great day as the Nifty Metal index ended the day 1.2% up. On the other hand, the Nifty PSU Bank index collapsed more than 1%. 

Coming to the global markets, the Asian markets saw the most significant rise in almost a year and a half as the Chinese stocks recorded gains. Japan’s Nikkei finished its last trading day of the year by losing 0.76%.

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

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