Stock market update: Sensex jumps over 200 points while Nifty trades flat
In a holiday-shortened week, the domestic stock market on Monday started on lacklustre note. At the very first hour of its business, Sensex traded at 35,910 up by 235 points. The broader Nifty traded at 10,740, with a loss of 13.40 points.
Notably, benchmark indices Sensex and Nifty opened higher but moved in a tight range see-sawing between gains and losses in first few minutes of trade. In early morning deals, losses in auto and metal stocks offset advances in IT and pharma counters.
While the top Sensex gainers were Sun Pharma (1.39%), Infosys (1.32%) and SBI (0.93%), the top laggards were Hero MotoCorp (2.44%), HCL Tech (1.14%) and Vedanta (0.99%).
On the other hand, Sun Pharma, Infosys, TCS and Indiabulls Housing Finance, trading between 1 per cent and 1.9 per cent higher, were among the prominent laggards on the Nifty.
Banking stocks were the top gainers with BSE bankex rising 0.51% to 30,175 level. Meanwhile, the mid cap and small cap indices were trading 0.23% and 0.11% higher in early trade.
Asian stocks were mostly lower with light trading on Monday as a Wall Street slump and a partial US government shutdown stemmed holiday cheer. South Korea’s Kospi dropped 0.2 percent to 2,058.19 while the Shanghai Composite index rose 0.1 percent to 2,519.71. Hong Kong’s Hang Seng lost 0.7 percent to 25,572.50. Australia’s S&P ASX 200 added 0.2 percent to 5,475.90. Stocks fell in Taiwan and Singapore. Markets in Japan, Indonesia and the Philippines were closed.