Sensex ends choppy day 111 pts up; Mid-, small-cap indices hit record peaks

Stock market updates: Benchmark indices settled higher on Monday as US stock futures suggested a positive start on Wall Street later today. The Dow Jones Futures were last up around 150 points, or 0.4 per cent, while the S&P 500 and Nasdaq Futures gained 0.5 per cent and 0.6 per cent, respectively. 

Trade in Europe was quiet as markets were closed in Germany, Switzerland, Denmark, Norway, Belgium and Austria for public holiday. Britain's FTSE 100 and France's CAC 40, meanwhile, moved higher by 0.3 per cent each in early trade. As regards Asia, major indices in Japan, China, and Australia gained between 0.2 per cent and 0.4 per cent.

Amid this global set up, the BSE barometer of 30-shares settled 111 points, or 0.2 per cent, higher at 50,652 levels while the broader Nifty50 index closed at 15,198 levels, up 22 points or 0.15 per cent. Both the indices hit intra-day highs of 50,857 and 15,256, respectively. 

The indices, however, underperformed the broader markets where both the MidCap and SmallCap indices scaled fresh peaks in the intra-day deals and settled around 0.8 per cent higher each. The BSE MidCap index touched a new record high level of 21,717 while the BSE SmallCap index hit 23,338. 

Individually, Indian Oil Corporation, SBI, L&T, BPCL, Axis Bank, UPL, PowerGrid, and ITC were the top performing stocks in the large-cap space while Natco Pharma, Concor, Adani Transmission, Page Industries, Birlasoft Corporation, MEP Infrastructure Developers, and Astec Lifesciences were the gainers in the broader markets.

Of these, shares of State Bank of India gained 4.4 per cent to quote at Rs 418.90 on the BSE in the intra-day trade, having rallied 9 per cent in the past two trading days, after the bank on Friday reported a strong performance on the asset quality front wherein slippages and restructuring were within guidance while sufficient provisioning buffer also provided comfort. The stock of the state-owned lender was trading close to its record high of Rs 426.45 touched on February 18, 2021. READ MORE

Those of Natco Pharma surged 20 per cent to Rs 1,188.95, also its new high, on the BSE in the intra-day trade after the company said it has received approval from the US health regulator for the generic version of Celgene's multiple myeloma drug, Revlimid (Lenalidomide) capsules in US. Lenalidomide capsule is indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes. READ MORE

Shares of Container Corporation of India (CONCOR), on Monday, hit a 52-week high of Rs 644.95 after rallying 10 per cent on the BSE in intra-day trade on the back of heavy volumes after the company said its board has accorded in-principle approval for exploring the possibility of borrowings an amount not exceeding Rs 3,500 crore by the company from any bank(s)/ corporate(s) and institution(s) towards executing long term lease agreement(s) for Railway Land(s). READ MORE

Sectorally, the Nifty PSU Bank index ended the day as the top gainer on the NSE, up over 2 per cent, followed by the Nifty Realty index (up 1.4 per cent), and the Nifty Media index (up 1 per cent). On the downside, the Nifty Metal index fell 0.6 per cent on the NSE.