The Indian markets ended marginally positive on Monday. After starting off with a positive gap the key indices were stuck in a narrow trading range and struggled for any clear direction. Market participants remain jittery as the stalemate continues over the issue of issue of FDI in retail; opposition remains committed to raise the issue for a debate and a vote.
Barring the PSU, Banking, Auto and the Oil & Gas indices all the other major sectoral indices ended in the green. The major gainers were, BSE Teck index was the top gainer, up 1.3%, BSE IT and BSE Consumer Durables index gained 1.2% each and BSE Metal index rose 1%.
Even the Mid-Cap and the Small-Cap index added 1% each.
Finally, BSE Sensex closed at 18537, up 30 points over the previous close. It had earlier touched a day's high of 18590 and a day's low of 18508. It opened at 18574.
The NSE Nifty was quoting at 5,636, up 9 points over the previous close. It earlier touched a day’s high of 5,649 and a day’s low of 5623. It opened at 5,648.
RIL, Wipro, Infosys, Coal India, Tata Power, SBI, Cipla, Bharti Airtel, Dr Reddys Lab, Sesa Goa, Tata Motors, Tata Steel, Hindalco Inds, ITC were among gainers in Sensex and Nifty.
ICICI Bank, Sun Pharma, HDFC, NTPC, Maruti Suzuki, BPCL, M&M, BHEL and GAIL were among losers in Sensex and Nifty.
The INDIA VIX on NSE remained unchanged at 14.67 It hit a day’s high of 14.94 and a day’s low of 14.09.
Other Corporate News
Jet Airways Ltd has reportedly said that they are in talks with Etihad Airways for minority stake sale, according to Aviation Ministry. Reports stated that the Jet Airways-Etihad deal may be concluded in 45 days.
Dubai is reportedly planning to build world's biggest shopping mall and gardens larger than London's Hyde Park.Emaar Properties PJSC, the United Arab
Emirates' largest developer by market value, and Dubai Holding LLC will together build a district called "Mohammed Bin Rashid City," named after the Persian Gulf emirate's ruler, according to reports
Lanco Infratech to raise US$2 bn from Chinese banks and FIs for power projects
Globally, the European markets opened on a negative note and have further moved lower on Monday as investors get jittery ahead of another Eurogroup meeting on Greece.
Reports stated that the U.K. Financial Services Authority, (FSA) on Monday fined UBS AG 29.7mn pounds for systems and controls failings that allowed an employee to cause substantial losses totaling US2.3bn as a result of unauthorized trading.
The FTSE index in UK was down 0.2%, DAX index in Germany was down 0.2% while the CAC index in France was down 0.3%.
While Asian markets ended mixed, the Hang Seng index in Hong Kong ended lower by 0.3%, Shanghai Composite index in China ended lower by 0.5%, the Nikkei index in Japan was up 0.24% and Straits Times rose 0.5%.