India's equity benchmarks closed the trading session higher on Monday, paced by gains in the Power, Auto and Public Sector Undertakings sectors that supported a modest advance for the broader market.
At the close on the National Stock Exchange, the Nifty 50 index added 0.55%. The BSE Sensex 30 also rose, finishing the session up 0.58%.
Top movers on the Nifty
The best-performing stocks on the Nifty included Adani Ports and Special Economic Zone Ltd (NSE:APSE), which climbed 2.81% - a rise of 42.50 points - to end at 1,554.00. Kotak Mahindra Bank Ltd. (NSE:KTKM) advanced 2.24% or 9.45 points to finish at 430.80, while HDFC Life Insurance Company Ltd (NSE:HDFL) gained 1.97% or 14.35 points to close at 743.00.
Lagging names
On the downside, Hindalco Industries Ltd. (NSE:HALC) was among the weaker large caps, slipping 2.27% or 21.20 points to 914.50 at the close. Wipro Ltd (NSE:WIPR) declined 1.87% or 3.93 points to 205.93, and Infosys Ltd (NSE:INFY) fell 1.86% or 25.20 points to 1,328.00 in late trade.
BSE Sensex movers
On the BSE Sensex 30, Adani Port and Special Economic Zone Ltd (BO:APSE) rose 2.82% to 1,554.10. Kotak Mahindra Bank Ltd. (BO:KTKM) added 2.23% to settle at 430.75, and Nestle India Ltd (BO:NEST) gained 1.99% to close at 1,319.00.
The weakest constituents on the Sensex included Infosys Ltd (BO:INFY), which was down 1.83% to 1,328.00 in late trade. Tech Mahindra Ltd (BO:TEML) lost 1.25% to settle at 1,439.00, and HCL Technologies Ltd (BO:HCLT) declined 0.74% to 1,426.40 at the close.
Market breadth and stock lows
Despite the headline gains, decliners outnumbered advancers on the exchanges. On the National Stock Exchange, falling stocks outnumbered advancing ones by 1,443 to 1,085, with 45 stocks ending unchanged. On the Bombay Stock Exchange, 2,282 issues fell while 1,788 advanced and 172 were unchanged.
Two large-cap IT names hit 52-week lows during the session. Shares of Wipro Ltd (NSE:WIPR) fell to 52-week lows, slipping 1.87% or 3.93 to 205.93. Infosys Ltd (NSE:INFY) also reached 52-week lows, losing 1.86% or 25.20 to 1,328.00. A BSE listing for Infosys Ltd (BO:INFY) was reported as down 1.83% or 24.75 to 1,328.00.
Volatility, commodities and currencies
The India VIX, which measures implied volatility in Nifty 50 options, moved lower by 1.57% to 14.14.
In commodities, Gold Futures for April delivery were up 1.89% or 95.79 to $5,176.69 a troy ounce. Crude oil prices were softer: crude oil for April delivery fell 0.66% or 0.44 to $66.04 a barrel, while the May Brent oil contract slipped 0.65% or 0.46 to trade at $70.84 a barrel.
On the currency front, USD/INR was up 0.21% to 90.89, and EUR/INR rose 0.31% to 107.22. The US Dollar Index Futures was down 0.15% at 97.58.
Takeaway
The session closed with indices modestly higher and sector leadership centered on Power, Auto and Public Sector Undertakings names. At the same time, market breadth showed a greater number of decliners than advancers, and select large-cap names in IT and metals traded lower and touched year-low levels. Volatility eased slightly and commodities and foreign exchange pairs posted mixed moves.