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Markets recoup initial losses to end flat as Sensex falls 64 points, Nifty tops 14,600

Markets recoup initial losses to end flat as Sensex falls 64 points, Nifty tops 14,600
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Mumbai: Equity benchmark Sensex staged a smart recovery from the day's low to end with marginal losses on Monday, propped up by robust buying in FMCG and telecom counters.

Reliance Industries and banking stocks accounted for most of the losses, while a rebounding rupee also provided support, traders said.

After plunging over 750 points in early trade, the 30-share BSE index made a U-turn to finish 63.84 points or 0.13 per cent lower at 48,718.52.

In similar movement, the broader NSE Nifty closed 3.05 points or 0.02 per cent higher at 14,634.15.

Titan was the top laggard in the Sensex pack, shedding 4.58 per cent, followed by IndusInd Bank, Reliance Industries, Axis Bank, Kotak Bank, ITC, SBI, ONGC and ICICI Bank.

On the other hand, Bharti Airtel, HUL, Maruti, Bajaj Finance, Asian Paints, NTPC and Nestle India were among the gainers, climbing up to 3.98 per cent.

Sectorally, BSE consumer durables, energy, bankex, oil and gas, realty and finance indices fell up to 1.99 per cent, while telecom, metal, FMCG, industrials and basic materials closed in the green.

Broader BSE midcap and smallcap indices outperformed the benchmark, spurting as much as 1.57 per cent.

Meanwhile, international oil benchmark Brent crude was trading 0.63 per cent lower at $66.34 per barrel.

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