The Indian stock market closed almost unchanged on Monday. The BSE Sensex experienced a marginal fall of 29 points to settle at 66,355, while the Nifty 50 managed to end on a positive note, gaining 8 points to reach 19,680.

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Among sectoral indices, the Nifty Bank slipped by 78 points to 45,845, while the Midcap Index bucked the trend, gaining 145 points to close at 36,887.

Tata Steel emerged as one of the top gainers, rising over 3 percent after reporting robust Q1 results. On the other hand, JSW Steel bounced back after a two-day losing streak.

In the last hour of trade, Adani Group stocks witnessed a significant surge, with Adani Enterprises ending 2 percent higher.

Hindalco Industries, JSW Steel, Tata Steel, NTPC, and UltraTech Cement emerged as the top gainers on the Nifty index. However, Asian Paints, ITC, Britannia Industries, IndusInd Bank, and Larsen and Toubro faced losses during the session.

The metal and power sectors witnessed a positive momentum, gaining 2 percent each. Conversely, PSU bank, capital goods, FMCG, and realty sectors experienced a slight decline of 0.5-1 percent.

Expert view

"Nifty witnessed pressure for the third consecutive day and traded sideways throughout the session to close with minuscule gains at 19681 levels. Sectorially it was a mixed bag with buying seen in Metals, Auto, and Consumer Durables. While PSU Bank and FMCG were top laggards. Metal stocks were in the limelight after China announced to provide policy support to aid economic recovery. Auto stocks were also in focus led by strong numbers posted by TVS, Bajaj Auto, and JLR. After making a fresh high of 19992 on 20th July – just a few points away from the psychological level of 20k, Nifty witnessed profit booking on account of mixed corporate results and weak global cues. We expect cautiousness in the market, ahead of the Federal Reserve's policy meeting on Wednesday where a 25bps hike is expected," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Also read: Stock Market Highlights: Sensex, Nifty 50 end flat; Asian Paints top loser, followed by ITC

First Published:Jul 25, 2023 3:48 PM IST