Sensex, Nifty end flat on crude jitters
Sensex ends at 50,441up 35 points. Nifty50 index closed at 14,956 levels, up 18 points.
After opening higher Indian benchmark indices gave up its gains on the concern of rising crude oil prices and weak global cues. Sensex ended at 50,441 levels, up 35 points or 0.07%. Nifty50 index closed at 14,956 levels, up 18 points or 0.12%.
L&T, ONGC, HCL Tech, NTPC & Axis Bank were the top gainers on the Sensex. On the downside, Bajaj Finance, IndusInd Bank, Ultratech Cement, & Bajaj Auto lost in the range of 1.40%-2.22%.
Sectorally Nifty PSU Bank was leading with gains of 1.6% followed by Nifty Metal rose 0.81% Nifty IT jumping 0.47%, Nifty Pharma 0.39% and Nifty Bank up 0.14%. Nifty Realty lost 1.05%, followed by Nifty FMCG was down 0.51% and Nifty Auto fell 0.16%.
In the broader market, the BSE MidCap and SmallCap indices closed 0.3% and 0.6% higher, respectively.
In other Asian markets, equities suffered losses amid sustained volatility in view of concerns over rising bond yields. Though, Asian shares had started the session on high, cheering the US Senate passing a USD 1.9 trillion stimulus bill for Covid-19 relief package.
Investor nerves also calmed a bit after the US labour department reported stronger-than-expected jobs data for February. Meanwhile, global crude oil prices climbed after Saudi Arabia reported drone attack on its oil facilities.
On the forex market front, the rupee tumbled 23 paise to close at 73.25 against the US dollar on Monday.
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