The benchmark Indian equity index settled higher on Monday in see-saw trading after declining for three consecutive sessions. The domestic index fluctuated between profit and loss during today’s session before ending in the green.
Asian markets traded under pressure after China’s financial hub in Shanghai announced the closure of Covid-19, sparking concerns about the impact on global activity. Crude oil prices declined today as the coronavirus closure sparked concerns about weak demand. The spread of sanctions in the world’s largest oil importer saw Brent fall $ 4.35 to $ 116.33, while U.S. crude fell $ 4.5 or 4 percent to $ 109.38.
Homeland, 30 shares of BSE Sensex rose 231 points or 0.40 percent to close at 57,593, while the broader NSE Nifty rose 69 points or 0.40 percent higher to close at 17,222.
However, medium- and small -cap stocks closed weaker as the Nifty Midcap 100 index edged 0.18 per cent lower and small -cap fell 0.73 per cent.
11 of the 15 sector gauges – compiled by the National Stock Exchange – end in green. Nifty PSU Bank and Nifty Bank outperformed the index by rising by 1.22 per cent and 0.85 per cent, respectively.
In terms of niche stocks, Bharti Airtel was Nifty’s top gainer as the stock jumped 3.90 per cent to Rs 737.
Coal India, Axis Bank, Eicher Motors and ICICI Bank are also among the beneficiaries.
The overall market size remained negative as 1,178 stocks rose while 2,331 declined on the BSE.
On the BSE 30 -stock index, Airtel, Axis Bank, ICICI Bank, ITC, SBI and IndusInd Bank are among the most profitable.
In addition, PVR shares jumped 3.53 percent and INOX Leisure jumped 11.75 percent after the company said they would merge.
In contrast, Nestle India, HDFC, HCL Tech, Dr Reddy’s, Asian Paints, Wipro and L&T are in the red.