Indian equity benchmarks NSE Nifty50 and BSE Sensex ended flat on Monday. The losses in IT shares dragged the headline indices lower while gains in oil, gas and consumable fuels supported the indices. The headline indices were also pressurised by largely negative cues across global markets.

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NSE

The Sensex fell 505.5 points to 61,676.2 before ending at 62,130.6. The Nifty50 moved within a range of 18,521.6-18,345.7 in intraday trade before ending flat at 18,497.2. Broad indices extended gains in the session. Nifty Midcap 100 and the Nifty Smallcap 100 ended 0.4 percent higher and 0.6 percent higher respectively.

A total of 21 stocks in the Nifty50 basket finished in the red, with Infosys, Asian Paints, Titan Company, Kotak Mahindra and Adani Ports being the top laggards.

Adani Total Gas, Polycab, Dalmia Bharat, Union Bank and Power Finance pulled the Nifty Midcap index higher.

On the other hand, HDFC Bank, HDFC, Nestle, Adani Enterprises and Divis Labs were the top Nifty gainers.

"A tepid start-off in the domestic market was flattened due to a recovery in banking, metals, and oil & gas, while continued selling in IT stocks weighed on the indices. Key inflation numbers are expected to soften from the previous month, owing to a moderation in food prices. Extending the stock market route, the global markets remained fragile as rate decisions by major central banks took centre stage," said Vinod Nair, Head of Research at Geojit Financial.

IT stocks ended nearly 118 points or 0.4 percent lower. Infosys and LTIMindtree dragged the sectoral index lower. Pharma stocks were the biggest losers, while realty shares were the top gainers.

Overall market breadth favoured the bulls at the close, as 1,815 stocks rose while 1,773 fell on BSE.

Rupee ends lower at 82.53 vs dollar, 26 paise lower from Friday's close.

Global markets

European markets pulled lower on Monday ahead of US Fed meeting scheduled later this week. Stoxx 600 index was last trading 0.3 percent lower.

S&P 500 futures were down 0.7 percent, suggesting a negative start ahead on Wall Street.

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First Published:Dec 12, 2022 4:01 PM IST