Domestic equities ended marginally higher after a volatile session on Monday, with banking stocks coming to rescue. Benchmark indices Sensex and Nifty fought bouts of volatility triggered by a sharp fall in Asian equities amid escalating political issues in Hong Kong and uncertainty over US-China trade deal.
After swinging 266 points during the day, the 30-share Sensex ended 21.47 points, or 0.05 per cent, higher at 40,345.08. Similarly, the broader NSE Nifty advanced 5.30 points, or 0.04 per cent, to end at 11,913.45.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel. On the other hand, Hero MotoCorp, Vedanta, TCS, RIL, Asian Paints, Maruti and M&M fell up to 2 per cent.
The domestic stock market did recover early losses to briefly trade in the positive territory, with the Sensex climbing to as high as 40,385.61 - up 62 points from the previous close - and the Nifty returning above the 11,900-mark, but failed to sustain those gains.
It is to be noted that on Friday, the Sensex had ended 330.13 points - or 0.81 per cent - lower at 40,323.61 and the Nifty settled at 11,908.15, down 103.90 points - or 0.86 per cent - from the previous close.
Indian market will be closed on Tuesday for “Guru Nanak Jayanti”. Weak cues from global markets kept investors on edge during the day, traders said. Participants also keenly awaited the release of monthly industrial production data, they said.
Bourses in Shanghai, Hong Kong, Tokyo and Seoul settled up to 2.62 per cent lower as investors got spooked by violent protests in Hong Kong. Meanwhile, US President Donald Trump said he has not agreed to roll back tariffs on Chinese imports, dampening recent optimism for a major de-escalation in the US-China trade war.
Exchanges in Europe were trading on a mixed note in their respective early deals. In the forex market, the Indian rupee depreciated by 18 paise to 71.47 against the US dollar intra-day.Brent crude futures, the global oil benchmark, fell 1.04 per cent to USD 61.87 per barrel.
(With inputs from PTI)
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