The benchmark indices ended flat on Monday stepping back from last week’s record highs. FMCG clocked healthy gains as ITC, Hindustan Unilever and Nestle ended as the top three gainers on Sensex.
In terms of index contribution, ITC, Reliance, and Infosys were the top three movers of the Sensex index. On the flip side, shares of HDFC Bank, Titan, TCS Mahindra, and Mahindra were the top drags on the index.
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Sensex opened at 79,915 against its previous close of 79,996.60 closing 36 points, or 0.05%, lower at 79,960.38.
Nifty 50 opened at 24,329.45 against its previous close of 24,323.85 and closed 3 points lower at 24,320.55.
Midcap and smallcap indices on the BSE closed with losses. The BSE Midcap index fell 0.14%; the Smallcap index ended 0.22% lower.
Among the sectors, the losers were Nifty PSU Bank (1.60%), Consumer Durables (1.28%), and Metal (0.93%). Nifty Bank ended with a loss of 0.45%, while the Private Bank index dropped 0.25%.
Defying weak market sentiment, the Nifty FMCG index jumped 1.63% followed by Nifty Oil & Gas 0.88%.
On Nifty 50, the top gainers were ONGC (4.15%), ITC (2.34%), and HDFC Life (2.25%) while the losers were Titan (3.33%), Divi’s Labs (3.23%), and BPCL (2.49%).
Shares of Paytm parent One 97 Communications surged over 9% after CEO Vijay Shekhar Sharma announced that his goal is to make Paytm a “$100 billion company”. Shares of Bank of Baroda fell 4%, dragged by weakest deposit and advances growth in 12 quarters.
Global deposits fell 1.6% on quarter to Rs 13.05 lakh crore while domestic deposits were down 2% to Rs 11.05 lakh crore.
Further, the advances also slipped 1.7% on a sequential basis to Rs 10.72 lakh crore in Q1 of FY25.
The Indian rupee also ended flat at 83.50 per dollar versus Friday’s close of 83.49.
On the global landscape, most Asian stocks, led by Chinese markets, fell amid ongoing trade war concerns with the West and anticipation of interest rate signals.
Despite positive gains on Wall Street last Friday, regional markets remained cautious ahead of Federal Reserve Chair Jerome Powell’s upcoming comments and key inflation data, including reports on consumer and producer prices for June later in the week.
