The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 26,347.81 points, closed at 26,402.96 points – up a paltry 5.25 points or 0.02 per cent, against the previous close at 26,397.71 points.
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As of 9:18 a.m., the Sensex traded 26 points higher at 26,429 and Nifty advanced 11 points to 8,106.
In contrast, the BSE market breadth was skewed in favour of the bulls – with 1,128 advances and 331 declines. The Nifty50 of the National Stock Exchange closed at 8127.85, recording a gain of 33.15 points or 0.41%.
Initially on Monday, the key indices opened on a flat note – marginally in the red – as investors’ sentiments remained weak on account of the volatility caused in the global markets due to Britain’s vote to exit the EU.
However, the broader markets came up a little better as they outperformed Sensex, with the small-cap index rising 1.52 per cent and the mid-cap 0.80 per cent.
The market experts expect the rupee to trade with negative bias.
Besides, short-covering ahead of June derivatives expiry on Thursday gave the upside some traction. Hopes of a healthy monsoon and higher global crude oil prices also contributed to the firm closing of the benchmark indices. Markets started cautiously and traded tad above their neutral lines in first half, but extended their northward journey in second half, as traders took some encouragement with the continuous fall in global crude oil prices. “After a sharp decline on Friday, the rupee is also showing some strengthening”, Anand James, Chief Market Strategist at Geojit BNP Paribas Financial Services, told IANS.
Meanwhile, foreign portfolio investors sold shares worth net Rs 629.14 crore last Friday, provisional data showed.
The selloff in sterling paused and safe-haven assets such as gold and the Japanese yen fell slightly, as South Korea announced an economic stimulus package of 20 trillion won (S$23 billion) and Japan said it’s more ready than ever to act.
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Dr Reddy’s Labs, Cipla, SBI and Sun Pharma were top gainers while TCS, Infosys, Wipro, Asian Paints and Bajaj Auto were losers in the Sensex.
