Markets advance higher powered by gains in auto & energy stocks

Mumbai: Benchmark indices Sensex and Nifty edged higher on Monday following gains in IT, energy and auto stocks amid a firm trend in European markets.

Market capitalisation of BSE-listed companies jumped to an all-time high of over Rs 280 lakh crore.

In a largely range-bound session, the 30-share BSE Sensex ended 85.88 points or 0.14 per cent higher at 61,308.91. As many as 19 of Sensex stocks advanced while 11 declined.

The broader NSE Nifty rose by 52.35 points or 0.29 per cent to 18,308.10 points as 34 of its components advanced. Nifty opened flat, fell in the early trade and kept bouncing up from intraday falls before closing in the green.

Ultratech Cement was the top gainer in the Sensex pack, surging by nearly 3 per cent. The cement major announced nearly 8 per cent growth in its third-quarter net profit at Rs 1,710.14 crore. It also announced a capex plan of Rs 965 crore for its modernisation and to almost double the production capacity of its white cement brand Birla White.

Mahindra & Mahindra rose by 2.19 per cent, Maruti Suzuki by 2.08 per cent, Tata Steel by 1.35 per cent, TCS by 1.26 per cent, L&T by 1.2 per cent, SBI by 1.14 per cent and HUL by 1.04 per cent.

Gains in Reliance Industries and Bharti Airtel also helped the index close in the green.

On the other hand, HCL Tech, HDFC Bank, Axis Bank, Tech Mahindra, PowerGrid, and Sun Pharma were among the laggards, falling up to 5.89 per cent. The BSE Midcap index rose by 0.23 per cent while the Smallcap index advanced by 0.61 per cent.

Among sectoral stocks, BSE Auto spurted by 1.98 per cent, BSE Utilities by 1.51 per cent, BSE Power by 1.41 per cent, BSE Realty by 1.37 per cent and BSE Consumer Goods by 1.02 per cent.

On the other hand, BSE Healthcare dropped by 0.76 per cent, BSE Bankex by 0.33 per cent and BSE Finance by 0.18 per cent.

The market was largely positive as 2,297 stocks out of 3,739 trading scrips advanced while 1,308 stocks declined and 134 remained unchanged on BSE. The turnover in the equity segment was Rs 5,484.11 crore.

Meanwhile, international oil benchmark Brent crude slipped 0.26 per cent to $85.84 per barrel. The rupee slipped by 10 paise to close at 74.25 against the US dollar.