Sensex ends 60 pts higher, Nifty above 11,350
Mumbai: Markets broke their two-session losing run to end with slim gains on Monday as investors made a cautious return to equities amid mixed global cues.
A depreciating rupee and concerns over economic recovery contributed to the risk-off sentiment, traders said.
After fluctuating between mild gains and losses during the session, the 30-share BSE Sensex finally settled 60.05 points or 0.16 per cent higher at 38,417.23.
Similarly, the NSE Nifty advanced 21.20 points or 0.19 per cent to close at 11,355.05.
HUL was the top gainer in the Sensex pack, spurting 1.77 per cent, followed by TCS, ITC, Asian Paints, HDFC, HCL Tech and Nestle India. On the other hand, M&M, Bajaj Finance, NTPC, UltraTech Cement, ONGC and Bharti Airtel were among the major laggards, dropping up to 3.46 per cent.
"Indian markets traded with volatility and finally ended the day with a positive bias. Virus infections continued to rise unabated and this fear combined with a selloff seen in the US markets in the previous trading session served to bring in doubts regarding the continuation of the momentum seen in recent times in the market.
"Investors would do well to stay nimble, watch global sentiments and trade cautiously," said Vinod Nair, Head of Research at Geojit Financial Services.
The markets attempted a comeback in the afternoon session, led by buying in index heavyweights Reliance Industries, TCS and HDFC, but failed to hold on to the gains amid lack of direction from global equities due to holiday in the US market, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.
BSE IT, FMCG, teck, metal, consumer durables, healthcare and energy indices ended up to 0.81 per cent higher, while realty, utilities, basic materials, oil and gas, auto and capital goods closed with losses. In the broader markets, the BSE mid-cap and small-cap indices fell as much as 0.78 per cent.
Global oil benchmark Brent crude was trading 1.73 per cent lower at $41.91 per barrel. In the forex market, the rupee depreciated 21 paise to end at 73.35 against the US dollar.
