Mumbai: The Indian equity benchmarks resumed their upmove after a day’s pause on Friday led by gains in Infosys, ICICI Bank, HDFC Bank, Axis Bank, Mahindra & Mahindra and Tech Mahindra. For most part of the day, benchmarks traded in a rangebound manner where in the Sensex moved in the range of 460 points and Nifty 50 index touched high of 16,320.75 and low of 16,179.05.
The Sensex ended 125 points higher at 54,403 and Nifty 50 index rose 20 points to close at 16,258.
“Our research suggests that 16,200 is an important support level for Nifty in the short term and we can expect the volatility in the market to expand and attain new levels of 16,500,” Gaurav Garg, Head of Research at CapitalVia Global Research said.
Nine of 15 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Media’s index’s nearly 1 per cent gain. Nifty Private Bank, Bank, Financial Services, Information Technology and Healthcare indices also ended on a positive note.
On the other hand, Metal, Oil & Gas, Consumer Durables and Real Estate indices closed with a negative bias.
Mid- and small-cap shares underperformed their larger peers as Nifty Midcap 100 index declined 0.75 per cent and Nifty Smallcap 100 index fell 0.93 per cent.
Rolex Rings shares made a stellar stock market debut on Monday. Rolex Rings shares opened for trading at ₹ 1,250, up 39 per cent from issue price of ₹ 900 per share. The stock rose as much as 40 per cent to hit an intraday high of ₹ 1,263 per share.
(Inputs from NDTV Business)