Yahoo Finance Indian Stock Market Ends Flat Amid Global Influences and Sectoral Shifts
In Monday's trading, Indian stock markets ended with minimal changes, breaking a four-session losing streak. The BSE Sensex added 14.54 points to close at 66,023.69, while the NSE Nifty50 rose by 0.30 points to end the day at 19,674.55. The lackluster performance was attributed to global influences and traders awaiting clearer signals on inflation and interest rates.
The early trading session was marked by volatility, with sluggish European and Asian indices causing local gauges to end flat. A fresh uptick in US treasury yields has been causing investor concern as foreign institutional investors continue to sell shares in local equities.
The broader markets reported slightly better results than their headline counterparts, with BSE midcap smallcap indices reporting decent gains. However, the India VIX, a measure of market volatility, rose by over 2% to reach the 10.90 level.
Sectoral performance showed a mixed picture. The Nifty realty index gained about 2%, and the Nifty financial services index rose by approximately 1%. Other sectors that saw gains included consumer durables and private banks. However, the Nifty IT and media indices each dropped about a per cent, while the Nifty private bank and pharma indices also reported significant losses.
In terms of individual stocks, Bajaj Finance shares were the top gainers in the Nifty50 pack, surging more than 4%, while Tata Consumer Products gained over 3%. Other major gainers included Bajaj Finserv, Apollo Hospital Enterprises, Coal India, Grasim and Kotak Mahindra Bank which each rose by 2%.
On the other hand, Hindalco fell more than 2%, with SBI Life Insurance Company and Hero MotoCorp also experiencing similar losses. Infosys (NS:INFY), Mahindra&Mahindra, Dr Reddy's Laboratories (NYSE:RDY) and Wipro (NYSE:WIT) each lost over a per cent.
A total of 3,946 shares were traded on the BSE on Monday, with 1,893 ending with losses. Conversely, 1,880 stocks ended the session with gains while 173 shares remained unchanged. A total of 352 shares hit their upper circuit for the day, while 263 shares tested their lower circuit levels.
In the broader markets, Indian Metals and Ferro (NYSE:FOE) Alloys saw gains of more than 10%, while Indiabulls Real Estate and Hathway Cable&Datacom surged about 9%. However, Delta Corp fell more than 18% after receiving a tax notice. Venus Pipes&Tubes fell about 16%, while EKI Energy Services was locked in a lower circuit of 10%. Berger Paints and Hindustan Foods each tumbled 8% for the day.
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