Sensex ends steady gaining 17 points; IT, metal save the day

Sensex Ends At 28,35-Mark IT Metal Save The Day

After opening lower, the BSE sensex bounced back briefly to hit a high of 28,382.32 on rebound in select stocks. Investors turn cautious after disappointing IIP number which contracted to four-month low of 0.4 per cent in December.

On Monday, the NSE Nifty rose by 11.50 points or 0.13 per cent to close at 8,805.05 points, and the BSE Sensex was up by 17.37 points, or 0.06 per cent, at 28,351.62 points.

It had shed 12.31 points in the previous session. The 30-share index opened higher at 28,450.42 and moved in a range of 28,458.80 and 28.309.58.

"IT, banking, pharma, auto, oil-gas, textile and aviation stocks traded with mixed sentiments, while FMCG, cement and power stocks traded lower due to selling pressure", Desai added.

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"Major Asian markets ended on a positive note".

European stocks were broadly higher in early trade, with banks leading the surge on expectations that they will benefit from the era of higher interest rates.

In terms of investments, the provisional data with exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 306.74 crore, whereas the domestic institutional investors (DIIs) divested scrip worth Rs 171.70 crore. Sensex closed in negative territory, at 28155.56 levels, down by 183.75 points or 0.65%.

Top gainers were - ITC at Rs 273.80 per piece (1.11%), followed by Adani Ports at Rs 310 per piece (1.01%), Larsen and Toubro at Rs 1503.45 per piece (0.71%), Mahindra & Mahindra at Rs 1311 per piece (0.69%) and Wipro at Rs 478.10 per piece (0.67%). Shares of Bank of Baroda slumped 10.26% to Rs 168.75 after it posted lower-than-expected quarterly profits on Friday. Gitanjali Gems ltd fell 5% to Rs 68.75 after the company said its net profit fell 73% in December quarter to Rs 50.04 crore from a year ago.

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