Markets close higher amid volatility, Tata Steel & other metal stocks shine
Upstox
2 min read • Updated: March 18, 2024, 5:17 PM
Summary
NIFTY50 ended above 22,000 and SENSEX gained 104 points, led by gains in metal stocks. Out of the NIFTY 50, 29 stocks were declining. UPL, Infosys andTata Consumer Products were among the top losers.
Benchmark indices closed in the positive territory on Monday, with NIFTY50 and SENSEX closing marginally higher, up 0.15% and 0.14%, respectively. After a negative start, the market traded in a range in the first half. However, the market erased all the losses in the second half to close in green.
Out of the NIFTY 50 stocks, 29 stocks closed in red. UPL, Infosys, Tata Consumer Products, were among the top losers. Tata Steel, Mahindra & Mahindra and JSW Steel were top gainers.
Metal stocks rose in today’s trading session after China’s industrial output expanded 7% in January-February, surpassing the market forecast of 5.2% growth.
On the sectoral front, Metal (+2.49%) and Auto (+1.26%) were the biggest gainers, while IT (-1.64%) and FMCG (-0.46%) were the biggest losers. The BANK NIFTY (-0.04%) index closed in the red. Sell-offs in HDFC Bank, Federal Bank, AU Bank dragged down the index.
Broader market indices continue to trade lower, NIFTY Midcap and Smallcap indices slipped 0.39% and 0.57%, respectively.
On the stocks front, Paytm stock was locked in their upper circuit for the second straight session. Last week, NPCI gave the green light to One97 Communications Limited (OCL), the parent company of Paytm, to become a third-party UPI application.