Sensex closes almost flat, Nifty slips on profit taking by investors in index heavyweights

Mumbai: Benchmark Sensex closed almost flat in a range-bound trade on Monday as investors booked profits in index heavyweights amid high valuation concerns.

The 30-share BSE Sensex edged up 17.39 points or 0.02 per cent to settle at 73,895.54. The barometer hit a high of 74,359.69 and a low of 73,786.29.

The broader NSE Nifty declined 33.15 points or 0.15 per cent to close at 22,442.70.

From the Sensex basket, Kotak Mahindra Bank jumped 5 per cent after the company reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins. Tata Consultancy Services, Hindustan Unilever, Mahindra & Mahindra, Sun Pharma, Tech Mahindra and IndusInd Bank were among the other major gainers.

Titan tanked 7 per cent after its March quarter earnings failed to cheer investors.

SBI, NTPC, Power Grid, Bajaj Finance and Larsen & Toubro were the other laggards.

In the broader market, the BSE smallcap gauge declined 1.06 per cent, midcap index dipped 0.95 per cent.

Consumer durables tanked 3.85 per cent, services declined 1.95 per cent, utilities (1.76 per cent), power (1.26 per cent), industrials (0.80 per cent) and commodities (0.78 per cent).

Healthcare, IT, auto, realty and tech were the gainers.

The BSE benchmark dropped 732.96 points or 0.98 per cent to settle at 73,878.15 on Friday.

The NSE Nifty also declined 172.35 points or 0.76 per cent to 22,475.85.