On Monday the Equity benchmark Sensex stand down most of the day’s profits to end marginally higher as investors chose to book profits after a swift market rally.
Early the Sensex points reached 640 whereas the 30-share BSE index settled 83.34 points or 0.24 percent which is higher at 34,370.58.
Alike, the National Stock Exchange, Nifty closed 25.30 points, or 0.25 percent, and rise at 10,167.45.
In Sensex the top gainer was IndusInd Bank soaring approx 7 percent, along with Axis Bank, Bajaj Finance, ONGC, Titan, Infosys, and Tech Mahindra.
After the Reliance Industries sold a 1.16 percent stake in its digital unit Jio Platforms to Abu Dhabi Investment Authority for Rs 5,683.50 crore. The companies’ shares fall to near 3 percent during the day, hitting their one-year peak.
M&M, UltraTech Cement, HDFC Bank, and Nestle India were cashed in on recent profits. But the closing of shares was 0.51 percent lower as investors cashed in on recent gains.
Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi commented that Stock markets are opened on a positive note and following positive cues from Asian peers as OPEC+ output cut extension for an additional month.
During the afternoon session, he said that since last week benchmarks gave up most gains on profit-booking by traders after an almost 1,200 point in Nifty.
Whereas Shanghai, Hong Kong, Seoul, and Tokyo settled with profits, while in Europe trading was on loss.
The International oil benchmark Brent crude futures increased 0.95 percent to USD 42.70 per barrel.