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Key market indices edge up in volatile trading
Key market indices edge up in volatile trading
Benchmark indices Sensex and Nifty eked out gains in volatile trade on Monday, extending the winning streak to a sixth straight day as gains in auto and IT shares offset losses in banking and FMCG stocks.
Mumbai: Benchmark indices Sensex and Nifty eked out gains in volatile trade on Monday, extending the winning streak to a sixth straight day as gains in auto and IT shares offset losses in banking and FMCG stocks.
Logging its longest gaining streak in four months, the 30-share BSE Sensex ended marginally up by 13.54 points or 0.02 per cent to 59,846.51. During the day, it climbed 276.14 points or 0.46 per cent to 60,109.11. The broader NSE Nifty advanced 24.90 points or 0.14 per cent to finish at 17,624.05, marking its sixth straight day of gains. Sensex and Nifty have risen by around four per cent in the six days of gains, which is the longest winning run since the eight-day rally from November 22 to December 1 last year. "The positive quarterly business updates from auto and real estate firms caused strong movements in their respective sectors, but the overall mood was slightly dampened by solid US job data, which raised fears of further rate hikes by the Fed.
The release of inflation data in India and the US, along with the FOMC minutes, have now become crucial in determining the market trend," said Vinod Nair, head (research) at Geojit Financial Services.
