Mumbai: The BSE Sensex closed with a gain of 231 points on Monday, recovering from the initial fall. Markets firmed up with gains in Reliance Industries and ICICI Bank, which had a strong share in the index amid a positive global trend. The 30-share Sensex had lost 537.11 points to 56,825.09 in early trade. But it gained momentum in afternoon trade and closed at 57,593.49, up 231.29 points, or 0.40 per cent.
Out of thirty Sensex stocks, 20 stocks were in gains while 10 were in losses. The Nifty of the National Stock Exchange also closed at 17,222 points, up 69 points, or 0.40 percent. Of the 50 NSE stocks, 29 ended in gains. Bharti Airtel, Axis Bank, ICICI Bank, ITC, State Bank of India, IndusInd Bank, PowerGrid, Bajaj Finserv, Hindustan Unilever and Reliance Industries are among the gainers in the 30 Sensex stocks.
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On the other hand, the losers included Nestle India, HDFC, HCL Technologies, Dr Reddy’s, Asian Paints, Wipro, Larsen & Toubro, Tech Mahindra. S Ranganathan, Head of Research, LKP Securities said, “The benchmark indices recovered from early losses with a positive global trend and closed in gains.” In other Asian markets, Japan’s Nikkei, South Korea’s Kospi ended in losses, while Hong Kong’s Hang Seng and China’s Shanghai Composite indices ended with gains.
There was a sharp trend in the afternoon trading in the major markets of Europe. Meanwhile, international oil benchmark Brent crude fell 3.46 per cent to $116.3 per barrel. According to stock exchange data, foreign institutional investors were net sellers in the capital market and sold shares worth Rs 1,507.37 crore on Friday. (agency)