Strong buying interest in metal stocks yet helped indices close nearly unchanged on a day of heightened volatility. Cement stocks and private banks lent support to the bulls even as market participants saw some profit booking.
The 30-share pack Sensex rose 32.10 points or 0.06 per cent to close at 49,765.94. Its broader peer NSE Nifty added 30.35 points or 0.20 per cent to settle at 14,894.90.
“The domestic market was torn between negatives and positives on a volatile trade owing to the monthly F&O expiry. The Fed in its meeting sealed economic confidence by keeping its monetary policy loose and reaffirming aggressive support through bond buying. Metal stocks continue to outshine other sectors on a strong outlook,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Morepen Labs surges 8% after co raises Rs 433 crore
- Bajaj Finserv gains 7% after Q4 earnings; Bajaj Fin up 4%
- RIL rises over 1% ahead of March quarter earnings
- HUL shares end in green after co surprises Street with 41% jump in Q4 profit
- PowerGrid InvIT IPO subscribed 6% on Day 1
Among the blue chip stocks, JSW Steel was the top gainer, rising 9.59 per cent. Tata Steel, Bajaj Finserv, Bajaj Finance, Hindalco, IndusInd Bank, UPL and Axis Bank were other gainers.
Hero MotoCorp was the top loser in the Nifty pack, falling 2.37 per cent. Eicher Motors, Bajaj Auto, SBI, HDFC, L&T, Tata Motors, M&M, Bharti Airtel and Indian Oil were other scrips that ended in the red.
Broader market indices ended on a mixed note, underperforming their headline peers. Nifty Smallcap rose 0.65 per cent and Nifty Midcap dipped 0.11 per cent. Nifty 500, the broadest index on NSE, climbed 0.12 per cent.
SAIL, Bombay Burmah Trading Corporation, Sun TV, Happiest Minds Technologies, Alkyl Amines and Rossari Biotech were top gainers from mid- and small-cap indices, climbing in the range of 3-9 per cent.
Sterlite Technology, Chambal Fertilisers, ChanFin Homes, Syngene International, Crompton Greaves Consumer Electricals and Laurus Labs were major losers from the broader market space, falling in the range of 2-6 per cent.
The sectoral matrix on NSE was mixed. Nifty Metal was the top gainer, up 4.53 per cent. Nifty PSU Bank was the top loser, dropped 1.14 per cent, while Nifty Auto fell about a per cent
Market breadth was in favour of losers as 1,396 stocks ended in the green, while 1,544 counters settled with cuts. As many as 228 securities hit 52-week highs, mostly from the small-cap space. Meanwhile, 32 scrips hit 52-week lows, mostly from the micro-cap space. About 280 stocks hit upper circuit limits and 188 lower circuit limits.
European markets were trading higher at the last count. London-based FTSE was up 0.71 per cent while Paris climbed 0.47 per cent, but Frankfurt fell 0.36 per cent. In Asia, all markets except Taiwan and South Korea closed with gains.
