The day started with Nifty opening down by 5.70 points and Sensex opening down by 15.66 points respectively. BSE Mid-cap and Small-cap indices opened with minor gains of 3.99 points and 6.68 points respectively.
Nifty touched intraday high of 8662.60 levels at the lunch hours, but could not sustain there for long time, closing flat at 8635.55 level, down by 5.6 points or 0.06%. Sensex closed at 27849.56 levels down by 32.90 points or 0.12%.
Out of 50 stocks in Nifty 50 index, 18 stocks advanced and 33 stocks declined.
Telecom stocks gained the most based on confirmation by Vodafone about merger talks with Idea Cellular. Telecom stocks gained as the merger between two of the largest telecom players augurs well for the industry profitability and structure. Reliance Communications closed up by 11.33%; Idea closed up by 26.54%; and Bharti Airtel closed up by 7.36%.
IT stocks continued to be under pressure. Nifty IT closed in red at 10170.65 levels, down by 11.20 points or 0.11%. Heavyweight player from the IT bunch, TCS closed at Rs 2338.85 per share, down by Rs 18.95 per share or 0.80%.
Reliance Industries closed up by 2.01%; Asian Paints closed up by 0.71%; Sun Pharma closed up by 0.66%; and Infosys closed up by 0.52%
Tata Motors along with Tata Steel were the biggest losers, contributing most to the Sensex downfall.
ONGC, SBI and Hero MotoCorp lost more than 1% each in Monday’s trading session.
Nifty touched intraday high of 8662.60 levels at the lunch hours, but could not sustain there for long time, closing flat at 8635.55 level, down by 5.6 points or 0.06%. Sensex closed at 27849.56 levels down by 32.90 points or 0.12%.
Out of 50 stocks in Nifty 50 index, 18 stocks advanced and 33 stocks declined.
Telecom stocks gained the most based on confirmation by Vodafone about merger talks with Idea Cellular. Telecom stocks gained as the merger between two of the largest telecom players augurs well for the industry profitability and structure. Reliance Communications closed up by 11.33%; Idea closed up by 26.54%; and Bharti Airtel closed up by 7.36%.
IT stocks continued to be under pressure. Nifty IT closed in red at 10170.65 levels, down by 11.20 points or 0.11%. Heavyweight player from the IT bunch, TCS closed at Rs 2338.85 per share, down by Rs 18.95 per share or 0.80%.
Reliance Industries closed up by 2.01%; Asian Paints closed up by 0.71%; Sun Pharma closed up by 0.66%; and Infosys closed up by 0.52%
Tata Motors along with Tata Steel were the biggest losers, contributing most to the Sensex downfall.
ONGC, SBI and Hero MotoCorp lost more than 1% each in Monday’s trading session.
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