Markets end with modest gains as profit-booking weighs on IT, FMCG stocks

Equity benchmarks closed with modest gains on Monday after surrendering most of their early rally. The market’s reaction was largely driven by profit-booking in IT and FMCG shares, coupled with continued selling by foreign investors.

The Sensex rose 76.54 points, or 0.09%, to settle at 80,787.30, while the Nifty ended 32.15 points, or 0.13%, higher at 24,773.15.

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During intraday trade, the Sensex had surged 460.62 points, or 0.57%, to a high of 81,171.38, while the Nifty briefly climbed above the 24,800 mark.

The BSE Midcap index advanced 0.33%, and the Smallcap index gained 0.30%. The overall market capitalisation of BSE-listed firms rose to nearly ₹453 lakh crore from ₹451.4 lakh crore in the previous session.

Among sectors, the Nifty Auto index led the rally with a strong 3.30% gain on expectations of demand recovery following GST rate cuts.

PSU Bank rose 0.49%, and Realty gained 0.46%. On the downside, Nifty IT slipped nearly 1%, while Healthcare and Consumer Durables declined 0.40% and 0.34%, respectively. The Nifty Bank inched up 0.13%, and Financial Services rose 0.21%.

On the Nifty 50, around 26 stocks ended higher. Key auto counters were the top gainers: Tata Motors (up 4.25%), Bajaj Auto (up 4.08%), and Mahindra & Mahindra (up 4.01%). On the losing side, Trent fell 4%, Asian Paints dropped 1.74%, and Dr. Reddy’s Laboratories slipped 1.35%.

In broader moves, shares of One Mobikwik Systems jumped 14%, extending their September rally to more than 52%. Adani Power gained 5% after announcing plans to set up a 570 MW hydroelectric project in Bhutan.

Market breadth remained positive, with around 168 stocks hitting their 52-week highs and 69 stocks touching 52-week lows.

Notable names among the highs included Ashok Leyland, Bosch, Cummins India, Dalmia Bharat, Eicher Motors, Endurance Technologies, JSW Steel, KIOCL, Lemon Tree Hotels, Mahindra & Mahindra, Maharashtra Scooters, Manappuram Finance, Muthoot Finance, FSN E-Commerce Ventures (Nykaa), TVS Motor, and Tata Steel.

Among those hitting lows were Deepak Nitrite, Aurionpro Solutions, Quess Corp, Affordable Robotic & Automation, Dhruv Consultancy Services, Pioneer Embroideries, Regaal Resources, and Suyog Telematics.