BIZ DESK
Benchmark equity indices reversed their early losses to end the 8-day losing streak, settling in positive territory on Monday. The BSE Sensex closed at 75,996.86, up 57.65 points or 0.08 per cent from its previous close, and around 702.10 points higher from the intra-day low of 75,294.76. In the preceding eight straight trading sessions, the BSE Sensex had shed 3.4 per cent or 2,645 points.
Similarly, the NSE Nifty50 ended 30.25 points or 0.13 per cent higher at 22,959.50. The index traded in the range of 22,974.20 to 22,725.45 on Monday. 34 out of the 50 constituent stocks of Nifty50 settled higher with the gains led by Adani Enterprises, Bajaj Finserv, IndusInd Bank, Power Grid Corporation, and Adani Ports of up to 3.93 per cent. Mahindra & Mahindra, Bharti Airtel, Infosys, TCS, and ICICI Bank were among the top laggards on the NSE Nifty50 with losses extending up to 3.45 per cent.
The broader markets also showed a recovery during the second half of the trading session, with the Nifty Midcap100 settling with gains of 0.39 per cent. The Nifty Smallcap100 index, on the other hand, ended with marginal gains of 0.04 per cent.
However, the market breadth remained negative. Out of 2,955 stocks traded on the NSE; 1,014 ended with gains, while 1,871 declined today, and 70 remained unchanged.
Among the sectors on the NSE, Pharma, Banks, Financial Services, Healthcare, OMCs, Consumer Durables, and Metals ended higher. The Nifty Pharma index was the top gainer among the sectors, closing 1.27 per cent higher, led by Glenmark Pharma, and Ajanta Pharma.