Mumbai Dec 4 (IANS) Breaking a four-day losing streak key Indian equity indices on Monday closed in the green with marginal gains as investors traded with caution ahead of the Reserve Bank of India s (RBI) two-day policy review meet starting Tuesday.
According to market observers a surge in stocks of IT major Infosys kept market sentiments buoyed. However profit booking in banking and auto stocks capped gains.
On a closing basis the wider Nifty50 of the National Stock Exchange (NSE) inched up 5.95 points or 0.06 per cent to 10 127.75 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 32 869.72 points -- up 36.78 points or 0.11 per cent -- from Friday s close.
The BSE market breadth was bearish -- 1 604 declines and 1 088 advances.
"Indian markets ended flat in trade. Focus now shifts to RBI s monetary policy meeting after the upbeat GDP (gross domestic product) numbers for the September quarter failed to cheer investors. The central bank s two-day policy meet is scheduled to begin on Tuesday " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.
According to Deepak Jasani Head Retail Research HDFC Securities markets ended with marginal gains on Monday after four consecutive sessions of losses.
"Broad market indices like the BSE mid-cap and small-cap indices ended with bigger losses thereby underperforming the main indices " Jasani told IANS.
"Technically while the Nifty has bounced back marginally the index remains in a short term downtrend " Jasani added.
In the broader markets the S&P BSE mid-cap index closed lower by 0.09 per cent and the small-cap index by 0.52 per cent.
On the currency front the rupee strengthened by 9-10 paise to close at 64.37-38 against the US dollar from its last week s close at 64.47.
Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 333.59 crore while domestic institutional investors bought stocks worth Rs 776.18 crore.
Sector-wise the S&P BSE IT index gained by 145.14 points metal index by 68.85 points and Teck (technology media and entertainment) index by 64.81 points.
On the other hand the S&P BSE banking index declined by 85.91 points auto index by 53.20 points and energy index by 22.29 points.
Major Sensex gainers on Monday were: Infosys up 2.80 per cent at Rs 985.30; Hindustan Unilever up 1.37 per cent at Rs 1 269.50; HDFC up 1.25 per cent at Rs 1 680; Tata Motors up 1.06 per cent at Rs 403.40; and Tata Steel up 1.03 per cent at Rs 687.70.
Major Sensex losers were: Coal India down 2.09 per cent at Rs 266.55; Maruti Suzuki down 1.10 per cent at Rs 8 512.90; Asian Paints down 1.02 per cent at Rs 1 124.50; Sun Pharma down 0.95 per cent at Rs 520.95; and Reliance Industries down 0.92 per cent at Rs 901.50.
--IANS
ppg/him/vm
