Markets settle almost flat in lacklustre trade

Mumbai: Benchmark equity indices Sensex and Nifty ended on a flat note in a lacklustre trade on Monday, as investors preferred to remain on the sidelines awaiting further triggers.

Participants booked profits in select blue-chip stocks amid high valuation concerns, while selective buying in metals, oil & gas and IT shares supported the indices, according to experts.

In a range-bound trade, the 30-share BSE Sensex slipped 12.16 points or 0.02 per cent to settle at 80,424.68. During the day, it hit a high of 80,724.40 and a low of 80,332.65.

The NSE Nifty edged up 31.50 points or 0.13 per cent to 24,572.65.

“The Indian market failed to catch up with the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand.

Among the 30 Sensex firms, Mahindra & Mahindra, IndusInd Bank, Bharti Airtel, Axis Bank, Tata Motors, and ICICI Bank were the biggest laggards.

In contrast, Tata Steel, Tata Consultancy Services, NTPC, JSW Steel, Asian Paints and Reliance Industries were gainers.

In the broader market, the BSE smallcap gauge jumped 1.33 per cent, and the midcap index climbed 0.53 per cent.

Among the indices, metal surged 2.28 per cent, oil & gas (1.76 per cent), energy (1.52 per cent), utilities (1.17 per cent) and commodities (1.02 per cent). Auto, bankex and capital goods were the laggards.

In Asian markets, Shanghai and Hong Kong settled higher, while Seoul and Tokyo ended lower.

European markets were trading mostly higher. The US markets ended in positive territory on Friday.

The BSE benchmark jumped 1,330.96 points or 1.68 per cent to settle at 80,436.84 on Friday, marking its best single-day gains in more than two months. The NSE Nifty surged 397.40 points or 1.65 per cent to settle at a two-week high of 24,541.15.