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Markets end flat, bank, auto stocks restrict gains

August 19, 2019 16:44 IST

Top gainers in the Sensex pack included Sun Pharma, TechM, Axis Bank, L&T, Reliance Industries and ICICI Bank, which rose up to 2.66 per cent.

BSE

Photograph: Danish Siddiqui/Reuters

Benchmark indices Sensex and Nifty saw their gains restricted on Monday after financial and auto stocks came under selling pressure towards the fag-end of the session.

A sense of caution still prevail among investors who are awaiting some measures from the government to arrest demand slowdown in various sectors which has been pulling down the economy.

 

Further, lingering concerns over the health of non-banking finance companies (NBFCs) made markets jittery, leading to sell-offs in financial stocks.

After rallying 369 points during the day amid positive cues from global markets, the 30-share Sensex settled 52.16 points, or 0.14 per cent, higher at 37,402.49. It hit an intra-day high of 37,718.88 and a low of 37,358.49.

The broader NSE Nifty too settled 6.10 points, or 0.06 per cent, up at 11,053.90.

During the day, it hit a high of 11,146.90 and low of 11,037.85.

Top gainers in the Sensex pack included Sun Pharma, TechM, Axis Bank, L&T, Reliance Industries and ICICI Bank, which rose up to 2.66 per cent.

On the other hand, Yes Bank, PowerGrid, ONGC, SBI, Mahindra and Mahindra, Hero MotoCorp, Tata Steel, Asian Paints and HDFC Bank were among the major laggards -- losing as much as 3.46 per cent.

Banking stocks fell after Reserve Bank governor Shaktikanta Das ruled out ordering an asset quality review of the systematically important shadow banks for now.

According to traders, market rallied tracking positive cues from other Asian markets.

However, losses in banking and auto stocks capped the gains.

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