Sensex gains 83 points to 27,117, Nifty settles above 8,390

0
62

NEW DELHI: Benchmark equity indices NSE Nifty and BSE Sensex gained over 0.30 per cent on Monday amid buying in frontline blue chip stocks on firm global cues.

The NSE Nifty50 index closed 42.15 points higher at 8,391 on January 23, while the 30-share Sensex settled 82.84 points up at 27,117.

In the Nifty50 index, 330 stocks settled the day in the green, while 154 others closed below the neutral line.

United Spirits (up 6.45 per cent), Hindalco (up 6 per cent), SAIL (up 5 per cent), JSW Steel (up 4 per cent) and HPCL (up 3 per cent) were among the major gainers on NSE .

Sectorwise, beverages-alcoholic, electronics, gems and jewellery, leather, cables sector-related stocks were among the major gainers on the bourses.

On NSE, Bharat Rasayan, Bhagyanagar Ind, HOV Services, Bhushan Steel and Panacea Biotec touched fresh 52-week highs.

ICICI Bank, Hindalco, Axis Bank, Idea Cellular and ITC were the most active stocks of the day on NSE in terms of turnover.

Shares of BEML advanced nearly 7 per cent after the government kickstarted the process for strategic sale of 26 per cent equity in the company, inviting bids from advisers on the issue.

United Spirits (USL) climbed over 6 per cent after the liquor major on Saturday reported an over three-fold jump in standalone net profit at Rs 147.70 crore for the third quarter ended December 31 on the back of lower finance costs and exceptional expenses in the corresponding period last year.

“Domestic institutional investors turned net sellers as well, and net sold Indian equities worth Rs 175.48 crore. Sectoral performance on the NSE was mixed. While healthcare and financial stocks came under selling pressure, metals, media and FMCG stocks saw some buying interest,” said Karthikraj Lakshmanan, Senior Fund Manager – Equities, BNP Paribas MF.

Globally, European stocks and bond yields dropped on Monday and the dollar hit a six-week low after US President Donald Trump began his term in office with a protectionist speech that pushed a nervous market into safe-haven assets, Reuters reported.

In Asia, Japan’s Nikkei dropped 1.1 per cent while shares in Australia dropped 0.8 per cent after Trump’s administration declared its intention to withdraw from the Trans-Pacific Partnership (TPP), a 12-nation trade pact that Japan and Australia have both signed