Equity parameters close with marginal gains, IT stocks under pressure
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Sectoral indices at the National Stock Exchange (NSE) were mixed with Nifty auto gaining by 0.8 per cent and metal by 0.5 per cent.
Equity benchmark indices ended on Monday with marginal gains after a volatile session on Friday while heavy buying was witnessed in metal, auto, energy and infra stocks.
The BSE S&P Sensex closed 42 points higher at 40,487 while the Nifty 50 was up by 15 points at 11,937.
Sectoral indices at the National Stock Exchange (NSE) were mixed with Nifty auto gaining by 0.8 per cent and metal by 0.5 per cent.
But Nifty realty slipped by 1.57 per cent, IT by 0.93 per cent, and media by 0.79 per cent.Among stocks, auto majors Maruti and Mahindra & Mahindra added gains of 1.7 per cent and 0.8 per cent respectively while JSW Steel was up by 1.7 per cent.
The other prominent gainers were Bharat Petroleum Corporation, IndianOil Corporation, Axis Bank, Adani Ports, HDFC.
Reliance Industries and Power Grid Corporation of India. However, IT major suffered losses.
Tata Consultancy Services was down by nearly 3 per cent, HCL Technologies by 1.6 per cent and Tech Mahindra by 0.8 per cent.
Cipla, Larsen & Toubro, IndusInd Bank, Kotak Mahindra Bank, State Bank of India and ITC also closed in the red.
Meanwhile, Asian stocks edged up, catching some of Wall Street's momentum after surprisingly strong US jobs data.
Japan's benchmark Nikkei and South Korea's Kospi added gains of 0.33 per cent each while China's Shanghai Composite stood virtually flat at 0.08 per cent.Wall Street rose to near-record highs on Friday on the strong jobs data and some signs of optimism about the US-China trade talks.