INSUBCONTINENT EXCLUSIVE:
NEW DELHI: In a highly volatile session on Monday, the domestic equity benchmarks gave up decent early gains to end nearly flat, as profit
taking in banks and IT stocks during the fag-end of the session weighed on market sentiment.
After gains in the first half, Sensex and Nifty
cooled off during the afternoon session, as investors turned to selling in frontline stocks, a day ahead of the release of IIP data and CPI
buying demand in index pivotals
However, markets are expected to witness volatility in the coming week as global developments influence investor sentiment
Manager-Equities, BNP Paribas MF.
Sensex rose 40 points, or 0.11 per cent, to 35,483
The Nifty50 advanced by 19 points or 0.18 per cent, ending the day at 10,787.
Besides, global cues were mixed in light of divisive G7 meet
Investors were also anxious whether the US Fed and European Central Bank will tighten policy in their meet this week.
Bharti Airtel, Sun
Pharma, Dr Reddy's Labs and Maruti led the pack of Sensex gainers.
On the other hand, Tata Steel, Power Grid, ICICI Bank and Coal India
stood as the top losers in the Sensex index.
The matter involving ICICI Bank has come under the scanner of the US markets regulator
Securities and Exchange Commission (SEC) also and as per the sources, the SEC is actively looking into the matter as ICICI Bank is listed in
the US also.
IndusInd Bank settled nearly 1 per cent up after the Reserve Bank of India allowed it to incorporate a wholly-owned subsidiary
for the amalgamation of micro-lender Bharat Financial Inclusion (BFIL) with the bank.
Sun Pharma clocked a gain of 1.29 per cent as HSBC has
maintained 'hold' rating on the drug maker with a target price of Rs 510, saying USFDA clearance of Halol facility will remove a key
regulatory overhang for the company.
Among the sectors on BSE, energy, utilities, metal, oil gas, realty and power ended the day in the
red.
Global stocks were mostly up, as investors were awaiting the cues from US Fed and European Central Bank's policy meets this week.
