Sensex gains 85 points to close at 61,308; Nifty ends above 18,300
Sensex gains 85 points to close at 61,308; Nifty ends above 18,300

On Monday, the benchmark BSE Sensex gained 85 points, mainly to increases in auto, IT, energy, and FMCG stocks, as well as a strong trend in European markets.

The 30-share index rose 85.88 points, or 0.14 percent, to 61,308.91 in a relatively range-bound session. The NSE Nifty also gained 52.35 points, or 0.29 percent, to 18,308.10.

Ultratech Cement led the Sensex pack with a gain of about 3%, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI, and HUL.

HCL Tech, HDFC Bank, Axis Bank, Tech Mahindra, PowerGrid, and Sun Pharma, on the other hand, were among the laggards, falling as much as 5.89 percent.

“Indian markets opened modestly higher, echoing mixed Asian market peers, as statistics showed China’s economy grew at 8.1 percent in 2021, slightly less than the 8.4 percent expected.

“Markets exhibited some momentum and traded in positive territory during the afternoon session as traders were relieved, as foreign portfolio investors (FPIs) reversed a three-month selling trend in January by investing a net 3,117 crore in Indian markets.” The gains were restrained during the day, however, due to weak performance in financials, IT, and healthcare,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

The rupee fell 9 paise versus the dollar to settle at 74.24 (provisional).

In other parts of Asia, bourses in Shanghai and Tokyo rose, while those in Hong Kong and Seoul fell. In mid-session trades, European stock exchanges were trading with gains.

Meanwhile, Brent crude, the international oil standard, fell 0.26 percent to USD 85.84 per barrel.

According to stock exchange data, foreign institutional investors (FIIs) were net sellers in the capital market on Friday, selling shares worth Rs 1,598.20 crore.

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