Stock Market Closing: Indices end in green as Nifty closes above 18,300, Sensex gains nearly 100 points; auto shares shine

The Indian domestic markets ended higher in the green amid push from auto and oil & gas stocks on Monday. Headline indices Nifty50 and the S&P BSE Sensex gained 56.15 (0.31%) and 85.88 points to end above 18,300 and 61,300 respectively.  

The 12-share Nifty Bank corrected around 0.4 per cent to end near 38, 200 as banking stocks remained under pressure on Monday.  

Talking about how the market traded throughout the day on Monday, Vijay Dhanotiya, Senior Research Analyst at CapitalVia Global Research Limited said the market witnessed a lackluster movement in start and an attempt to hold the level above the Nifty 50 Index level of 18250. Market research suggests that 18200-18250 will be an important support zone in the market, he said.  

"If the market is able to sustain this level, we can expect the volatility to expand, that could lead to an upside projection till the levels of 18550-18600. The momentum indicators like RSI, MACD indicating a positive outlook to continue and market breadth to improve further," he added. 

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Meanwhile, Hero MotoCorp, ONGC, Grasim, Tata Motors, Ultratech Cement, Maruti, Mahindra & Mahindra, Tata Steel, NTPC, TCS and Larsen & Toubro gained between 1 per cent to 5 per cent despite mixed global cues on Monday.  

HCL Tech, HDFC Bank, Axis Bank, Britannia, Cipla, Tech Mahindra Sun Pharma and Powergrid declined the most on the two indices.  

In the broader market, small cap and midcap indices too ended higher. Sectorally, pressure was on banking, financial, IT and pharma themed indices.