Sensex, Nifty close flat in year’s first trading session dragged by banking stocks
economictimes.indiatimes.comSensex closed flat in a highly volatile market on the first session of 2024 as gains from IT and energy stocks were offset by banking, auto and financial stocks.
The 30-share BSE benchmark Sensex rose 32 points or 0.04% to settle at 72,272. The broader NSE Nifty gained 10 points or 0.05% to end at 21,742.
During the day, Sensex hit a low of 72,031.23 and a high of 72,561.91, its lifetime intraday peak.
From the Sensex stocks, Nestle, Tech Mahindra, HCL Tech, Tata Motors, and Wipro were the top gainers, rising 1-3%.
On the other hand, Bharti Airtel, M&M, Axis Bank, Bajaj Finserv, JSW Steel, and Kotak Bank were the top losers, falling 0.6-2%.
Among individual stocks, YES Bank closed 5.5% higher after the private lender received Rs 150 crore from a single trust in the security receipts portfolio pertaining to the sale of NPA portfolio to JC Flowers ARC on December 17, 2022.
Shares of Railtel Corporation of India closed 4.3% higher, buoyed by a Rs 120.45-crore work order from the South Central Railway.
Sector-wise, Nifty Media rose 1.8%, led by Dish TV, TV18 Broadcast, and Zee Entertainment Enterprises. Nifty FMCG, IT, metal, pharma, realty, and oil and gas also closed higher.
Whereas Nifty bank, auto, financial services and consumer durables closed in the red.
The market breadth was skewed in favour of the bulls. About 2,542 stocks gained, 1,350 declined, and 155 remained unchanged on the BSE.
Most global markets were shut on Monday on account of the New Year's holiday.
Expert Views
«Market exhibited strength led by optimism on rate cuts, easing global inflation, and softer bond yields.
