Sensex closed with losses for the second consecutive session on Monday led by losses in IT and pharma stocks. The Sensex closed 34 points down at 62,834 and the Nifty closed at 18,701 with a gain of 5 points.
Reliance Industries (1.46%), Tech Mahindra (1.33%), UltraTech Cement (0.76%), Dr Reddy’s (73%), Axis Bank (0.61%) and Bharti Airtel (0.58%) were the top losers on the Sensex.
Tata Steel (up 3.35%), NTPC (1.66%), SBI (1.58%), IndusInd Bank (1.38%) and PowerGrid (0.61%) were among the top Sensex gainers.
15 out of 30 Sensex closed with losses.
Vinod Nair, Head of Research, Geojit Financial Services, said, “Markets continued profit-booking from record highs on a cautious note ahead of the RBI policy announcement on December 7. OPEC’s decision not to cut production targets, and China’s Easing in Covid policy. Highest profit booking was seen in IT sector, while banks and metals fared better. Market expects hike of 35 bps as compared to 50 bps in last three meetings. Inflation forecast downgraded.”
Market breadth was positive with 2,111 scrips falling against 1,486 scrips on the BSE. There was no change in 197 shares. IT and pharma shares were the top losers in their BSE indices, falling 110 points and 113 points, respectively. On the other hand, metals and banking shares were the top sectoral gainers in their respective BSE indices with gains of 491 points and 225 points, respectively.
Read also: Can ICICI Bank be a compounding machine? Jefferies, Morgan Stanley, others say so
The market cap of BSE-listed firms stood at Rs 290.46 lakh crore as against the market cap of Rs 289.57 lakh crore in the previous session. The BSE Mid Cap and Small Cap indices rose 27 points and 74 points, respectively.
Foreign institutional investors (FIIs) bought shares worth Rs 214.76 crore on Friday, according to exchange data.
Indian equity markets fell on Friday, ending an eight-day rally, amid weak global markets and profit-booking at record levels. The Sensex closed at 62,868.50, down 415.69 points. During the day, it fell 604.56 points to 62,679.63. The Nifty closed at 18,696, down 116.40 points or 0.62 per cent.
Elsewhere in Asia, bourses in Tokyo, Shanghai and Hong Kong closed higher, while Seoul ended lower.
Equity exchanges in Europe were mostly trading lower in afternoon trade. Wall Street closed on a mixed note on Friday. International oil benchmark Brent crude was trading 1.73 per cent higher at $87.05 per barrel.