Indices pared opening gains on Monday, with both Sensex and Nifty witnessing selling bias. At around 09.29 am, Sensex was trading at 39,457.25 down 156.82 points or 0.40%. While Nifty was performing at 11,589.35 below 53.05 points or 0.46%.
The market opened on a higher note with Nifty trading at 11,697.35 up 54.95 points or 0.47%, while Sensex performing at 39,765.89 above 151.82 points or 0.38% at around 09.16 am.
In the pre-market opening, at around 09.01 am, Sensex stood at 39,805.67 higher by 191.60 points or 0.48% and Nifty at 11,764.60 surging by 122.20 points or 1.05%.
Gainers on Sensex included stocks like -
ICICI Bank (+5.58%), IndusInd Bank (+3.14%),
NTPC (+1.08%), Power Grid (+1.05%) and Tech Mahindra (+1.01%).
While heavyweight
Reliance Industries (RIL) dragged the benchmarks as the stock stood the top underperformer on exchanges. RIL was trading at Rs1,969.65 per piece down 4.12% on Sensex.
RIL had posted its financial performance for September 2020 (Q2FY21) quarter, where the company's consolidated net profit was lower at Rs10,602cr compared to a net profit of Rs11,352cr a year ago same period and Rs13,248cr of the preceding quarter.
In the losers list on Sensex, RIL was followed by
HCL Tech, Kotak Bank, L&T and TCS tumbling by nearly 1% each.
On sectoral-wise performance, banking stocks witnessed outperformance with BSE Bankex trading at 27,388.62 higher by 2.04%. While finance and power stocks also contributed to the gains.
Stocks that will be in focus on Monday are - RIL, ICICI Bank, Coal India,
Hero MotoCorp, Maruti Suzuki, M&M, Eicher Motors, IndusInd Bank and Sun Pharma among others.
Companies that are set to announce their financial performance for Q2FY21 today are - HDFC,
Cadila Healthcare, Punjab National Bank, NTPC, Bandhan Bank, AIA Engineering, Anant Raj, BF Utilities, Coromandel International, City Union Bank, Embassy Office Parks REIT,
Escorts, Narayana Hrudayalaya, OnMobile Global, Pfizer, PNC Infratech, Shriram City Union Finance, TCI Express, Whirlpool of India, Wockhardt, Wonderla Holidays and Zee Entertainment Enterprises. These companies stocks will also remain in focus.
Indian domestic equities tracked gains of Asian peers which rebounded on Monday on the back of strong China data which indicated that factory activity expanded at its fastest pace in a decade.
MSCI's broadest index of Asia-Pacific shares outside Japan, climbed 0.5% to 573.04, as China's Caixin/Markit Manufacturing Purchasing Managers' Index stirred investors sentiment on an upside with hope the region's success in containing the coronavirus could offset it the economic pain which is being inflicted on major economies like Europe and the United States.