Negative global cues hurt sentiments on Dalal Street. Recently, foreign investors have also started withdrawing money from India, which is also denting the morale.
The 30-share pack Sensex added 35.75 points or 0.07 per cent to close at 50,441.07. Its broader peer NSE Nifty advanced 18.10 points or 0.12 per cent to 14,956.20.
“Domestic markets pared early gains taking cues from weak Asian markets, falling US futures and rising oil prices. Oil & gas, PSU banks and metal stocks were the sectors in focus inching the broader market. Oil prices were parked near record highs following geopolitical issues in the Gulf while reports of the progress of PSU bank privatization tempered buying in PSBs,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance
- Fear gauge India VIX slides over 3%
- UPL emerges top Nifty gainer, up 7%
- Oil explorers in a sweet spot as crude oil surges past $70/bbl
- IPO watch: Easy Trip Planners subscribed 1.78 times
- L&T climbs over 3% after Goldman Sachs adds it to conviction list
Among the blue chip counters, UPL was the top gainer, rising 7.08 per cent. GAIL, L&T, ONGC, SBI Life Insurance, HCL Tech, Indian Oil, Axis Bank, NTPC and SBI were other gainers.
IndusInd Bank was the top loser in the Nifty pack, falling 2.22 per cent. Shree Cement, Bajaj Finance, UltraTech Cement, Bajaj Auto, Bharti Airtel, HUL and Bajaj Finserv were others that ended in the red.
“Participants should restrict naked leverage positions and focus more on selection of stocks.”
Broader market indices also ended with gains, outperforming their headline peers. Nifty Smallcap added 0.75 per cent and Nifty Midcap gained 0.45 per cent. Nifty 500 — the broadest index on NSE — advanced 0.35 per cent.
NIACL, JSW Energy, Bank of India, Saregama, BEML and MEP Infra were top gainers from the mid- and small-cap indices, climbing in the range of 7-20 per cent.
TVS Motor, Adani Transmission, Muthoot Finance, Seya Industries, Zensar Technologies and Gabriel India were major losers from broader market space, falling in the range of 2-6 per cent.
The sectoral matrix was mixed on NSE. Nifty Realty was the biggest loser, down 0.87 per cent. Nifty Nifty Financial Service was the other major loser. Nifty PSU Bank, Nifty Media and Nifty Metal were major gainers.
