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(RTTNews) - Despite paring a good portion of early gains, key Indian stock indices Sensex and the Nifty50 closed on a firm note on Monday, as investors reacted to a slew of earnings updates and encouraging vehicles sales data from leading automobile manufacturers.
A good show by the National Democratic Allianz (led by the Bharatiya Janata Party) in assembly elections in Assam and West Bengal contributed as well to the positive mood in the market.
Meanwhile, concerns about Middle East situation amid lingering uncertainty about peace efforts weighed a bit on sentiment.
The BSE benchmark Sensex, which rose to 77,910.75 in early trades, gaining almost 1,000 points in the process, ended the session with a gain of 355.90 points or 0.46% at 77,269.40, near the day's low.
The National Stock Exchange's Nifty50 settled with a gain of 121.75 points or 0.51% at 24,119.30, well off the day's high of 24,290.20.
Metal, pharma and realty stocks had a good outing. Technology stocks traded weak.
Adani Ports & Special Economic Zone climbed 5.3%. Hind Unilever moved up 2.6% thanks to a jump in quarterly earnings, while Reliance Industries, Larsen & Toubro, Eternal and Maruti Suzuki gained 2%-2.25%.
Bajaj Finserv, UltraTech Cement and Bajaj Finance moved up 1.4%-1.7%.
Kotak Bank lost 2.8% despite reporting a notable increase in net earnings in the first quarter.
Bharti Airtel drifted down by about 3.1%. Tata Consultancy Services, ITC and Infosys lost 1.1%-1.7%. Dr Reddy's Laboratories, ONGC, Indigo and ITC also closed notably lower.
The market breadth was positive. On BSE, 2,607 stocks closed higher. 1,735 stocks ended weak, while 221 stocks closed flat.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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