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NEW DELHI: Domestic benchmark indices took two steps forward and one back on Monday. Despite rising Covid-19 cases in the country, low level buying in metal and banking stocks along with realty pushed both S&P BSE Sensex and NSE Nifty 50 higher.
Positive global cues coupled with good numbers from lifted the morale of investors. However, some profit taking was seen in afternoon trade in FMCG and pharma stocks.
Q4 earnings are in focus as many big names are slated to report their financial results this week.
âBuying interest was broad-based led by banking, realty and metal stocks with hope that we are nearing the peak of infection. Banking stocks outshined other major sectoral indices due to the positive beginning of quarterly results," said Vinod Nair, Head of Research at Geojit Financial Services.
"The market may remain volatile in the coming days as covid cases continue to be high, April F&O expiry and upcoming FOMC meeting," he added.
Equity investors grew richer by Rs 1.83 lakh crore as the total market capitalisation of BSE-listed firms rose to Rs 204.20 lakh crore.
Market at a glance:
Cipla was the top loser in the Nifty pack, falling 2.96 per cent. Britannia, HCL Tech, BPCL, Sun Pharma, Maruti Suzuki, HDFC Bank, TCS and Hindalco were other scrips that ended in the red.
Broader market indices ended with gains in line with their headline peers. Nifty Smallcap and Nifty Midcap rose 1.13 per cent and 0.78 per cent, respectively. Nifty 500, the broadest index on NSE, climbed 0.92 per cent.
SAIL, Indian Hotels, Crompton Greaves Consumer Electricals, Can Fin Homes, Rain Industries and Indian Energy Exchange were top gainers from the mid- and small-cap indices, climbing in the range of 5-10 per cent.
M&M Financial Services, Shriram Transport Finance, Aditya Birla Capital, Avanti Feeds, Ceat and Sun Pharma Advanced Research were major losers from the broader market space, falling in the range of 2-9 per cent.
Barring Nifty Pharma, which declined 0.87 per cent, all sectoral indices on NSE closed with gains. Nifty Realty was the top gainer, up 3.40 per cent. Nifty Metal and Nifty Bank were other major gainers, adding about 2 per cent each.
Overall market breadth was in favour of gainers as 1,880 stocks ended in the green while 1,109 scrips settled with cuts. As many as 194 securities hit 52-week highs, mostly from the small-cap universe. Meanwhile, 60 counters hit 52-week lows, mostly from the micro-cap space. About 390 stocks hit upper circuit limits and 210 lower circuit limits.
European markets were trading mixed at the last count. London-based FTSE was down 0.02 per cent. Paris rose 0.03 per cent and Frankfurt dropped 0.16 per cent. In Asia, Hong Kong, Indonesia and China ended lower while all other markets closed with gains.
Positive global cues coupled with good numbers from lifted the morale of investors. However, some profit taking was seen in afternoon trade in FMCG and pharma stocks.
Q4 earnings are in focus as many big names are slated to report their financial results this week.
âBuying interest was broad-based led by banking, realty and metal stocks with hope that we are nearing the peak of infection. Banking stocks outshined other major sectoral indices due to the positive beginning of quarterly results," said Vinod Nair, Head of Research at Geojit Financial Services.
"The market may remain volatile in the coming days as covid cases continue to be high, April F&O expiry and upcoming FOMC meeting," he added.
Equity investors grew richer by Rs 1.83 lakh crore as the total market capitalisation of BSE-listed firms rose to Rs 204.20 lakh crore.
Market at a glance:
- ICICI Bank climbs 3% after lender delivers encouraging Q4 numbers
Cipla was the top loser in the Nifty pack, falling 2.96 per cent. Britannia, HCL Tech, BPCL, Sun Pharma, Maruti Suzuki, HDFC Bank, TCS and Hindalco were other scrips that ended in the red.
Broader market indices ended with gains in line with their headline peers. Nifty Smallcap and Nifty Midcap rose 1.13 per cent and 0.78 per cent, respectively. Nifty 500, the broadest index on NSE, climbed 0.92 per cent.
"We remain cautiously optimistic as volatility is likely to remain high on the back of derivative expiry and upcoming earnings announcements. Banking, metal and pharma are showing tremendous resilience and should be preferred for long trades on dips."
M&M Financial Services, Shriram Transport Finance, Aditya Birla Capital, Avanti Feeds, Ceat and Sun Pharma Advanced Research were major losers from the broader market space, falling in the range of 2-9 per cent.
Barring Nifty Pharma, which declined 0.87 per cent, all sectoral indices on NSE closed with gains. Nifty Realty was the top gainer, up 3.40 per cent. Nifty Metal and Nifty Bank were other major gainers, adding about 2 per cent each.
Overall market breadth was in favour of gainers as 1,880 stocks ended in the green while 1,109 scrips settled with cuts. As many as 194 securities hit 52-week highs, mostly from the small-cap universe. Meanwhile, 60 counters hit 52-week lows, mostly from the micro-cap space. About 390 stocks hit upper circuit limits and 210 lower circuit limits.
European markets were trading mixed at the last count. London-based FTSE was down 0.02 per cent. Paris rose 0.03 per cent and Frankfurt dropped 0.16 per cent. In Asia, Hong Kong, Indonesia and China ended lower while all other markets closed with gains.
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