Sensex, Nifty End Volatile Session Marginally Higher
Domestic stock markets finished a volatile session on Monday with mild gains. The S&P BSE Sensex index moved in a wide range of more than 450 points, gaining to as high as 38,519.92 during the session, and also sliding to as low as 38,060.74. The broader NSE Nifty 50 benchmark traded in a 11,251.70-11,381.15 range, as against its previous close of 11,333.85.
The Sensex ended 60.05 points - or 0.16 per cent - higher at 38,417.23, and the Nifty settled at 11,355.05, up 21.20 points - or 0.19 per cent - from its previous close. The broader markets under-performed the benchmark indices; the BSE Midcap index ended 0.7 per cent lower at 14,702.12 and the BSE Smallcap index settled down 0.2 per cent at 14,573.48.
Asian shares were on the defensive on Monday as investors grappled with sky-high valuations against the backdrop of a global economy damaged by a coronavirus-induced recession.
The day clearly belonged to the consumer goods giants; Hindustan Unilever, ITC, Asian Paints and Nestle India gained in the region of 0.8 per cent to 1.8 per cent each, on the BSE.
Among stocks in the news, Vodafone Idea shares ended higher by 2.4 per cent at Rs 12.30, albeit off the highs of the days after Vodafone Idea re-branded itself as Vi to take on the intense competition in the country's telecom sector amid piles of debt. The stock had soared more than 10 per cent ahead of the announcement.
On the other hand, M&M slid 3.4 per cent to emerge as the top loser among BSE index stocks. Bajaj Finance, NTPC, ONGC and Bharti Airtel were the other prominent losers, shedding 1.9 per cent to 2.5 per cent each on the BSE.
On the primary market front, Happiest Minds IPO opened for subscription. The Bangalore-based IT services company's public issue will remain open for three trading days, until September 9. The company has fixed the price band at Rs 165-166 per share.
The BSE market breadth was marginally weak. Out of 2913 stocks traded on the BSE, there were 1,225 advancing stocks as against 1,494 declines.
