FINAL TRADE: Indices scale fresh record highs; Nifty closes above 22,400; JSW Steel slips after CLSA downgrade
Stock market today: At close, the S&P BSE Sensex was up 0.09 per cent, or 66.14 points, at 73,872.29, and the NSE Nifty was up 0.12 per cent, or 27.2 points, at 22,405.6.
Stock market today: The domestic benchmark indices Sensex and Nifty settled at record highs on Monday, thanks to gains in energy and bank shares and a rally in Asian markets.
At close, the S&P BSE Sensex was up 0.09 per cent, or 66.14 points, at 73,872.29, and the NSE Nifty was up 0.12 per cent, or 27.2 points, at 22,405.6.
Among the Nifty 50 stocks, 25 advanced, with NTPC, HDFC Life, Power Grid, ONGC, and BPCL being the top gainers, rising in the range of 3.69 per cent to 2.67 per cent. Conversely, Eicher Motors, JSW Steel, Britannia, SBI Life, and M&M were the top laggards, sinking between 1.68 per cent to 2.68 per cent.
Meanwhile, among the Sensex constituents, NTPC, Power Grid, and Reliance Industries were the top winners.
"The market traded in a range-bound manner due to weak global cues, while investors turned stock-specific due to the prevailing caution on broader indices. Further, the tepid consumption data influenced investors to refrain from FMCG and discretionary stocks. The global sentiment is likely to be cautious ahead of FED chair testimony and ECB policy later this week. Since inflation is above the target range, the FED is expected to keep its hawkish stance on interest rates and will be watchful of unemployment and nonfarm payroll data for more cues," said Vinod Nair, Head of Research, Geojit Financial Services.
In the broader market, the Nifty Mid Cap 100 and Small Cap 100 closed in green. Nifty Bank was up 0.34 per cent at 47,456.1.
GLOBAL MARKETS
World stocks were mixed Monday ahead of China’s top annual political gathering, while Japan’s benchmark surpassed the 40,000 level for the first time.
In Asian trading, Japan’s Nikkei 225 share index gained 0.5 per cent to close at 40,109.23 following an advance last week on Wall Street that pushed U.S. stocks to new heights.
Shares in Japan have tracked gains in other markets driven by expectations for strong demand for technology associated with artificial intelligence. They have also been boosted by continued easy credit policies, with the Bank of Japan pumping money into the economy to help support growth.
(With inputs from agencies.)
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05:05 PM IST