The Indian stock market ended higher on Monday on the back of gains in banks, metals, pharma and FMCG stocks. The Sensex ended 154 points higher to 46,253 while the Nifty50 index closed at 13,558, up 44 points higher.
However, broader markets continued to outperform benchmarks with the Nifty Midcap and Nifty Smallcap indices up more than half a percent each.
Barring auto and realty indexes, all sectoral indices ended higher. Nifty Media was the best-performing index of the day, ending 2 percent higher followed by Nifty PSU Bank and Nifty Metal.
ONGC, L&T, Cipla, Coal India and Indian Oil Corporation remained the Nifty50 top gainers of the day while Eicher Motors, Hero MotoCorp, M&M, Divi's Labs and Wipro were the top losers.
“We have closed within the resistance range of 13,400-13,700. Until we do not get past 13,700 or break 13,400 we will not witness any meaningful trading move. Since the bias is on the upside, falls or corrections can be utilized to accumulate long positions. 13,350-13,400 is a good support for the Nifty,” said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Burger King got listed today with stellar gains and ended 20 percent higher at Rs 135 per share on the NSE. The stock listed at Rs 112.50 apiece on the NSE, an 87.50 percent premium over the issue price of Rs 60 per share.
Cipla was one of the top gainers of the Nifty index, closing 4.11 percent higher to 786.9 per share on the NSE after it announced the settlement of its litigation with Celgene Corporation relating to patents for cancer drug Revlimid (lenalidomide).
IRCTC's shares settled 4 percent higher to Rs 1,478 apiece after the firm's offer for sale (OFS) concluded successfully on Friday, where the government divested a 20 percent stake in the firm.
India Volatility Index rose 3.4 percent to end at 19.43.
1,204 stocks on the NSE ended with gains while 697 stocks declined.
First Published: IST