Sensex slips 94 pts, Nifty holds 16,550; Indian oil soars 13%, LIC drops 3%



Stock Market Highlights: A bearish open was steadily gained in the afternoon as investors bet on metals, private banks and auto players. In contrast, most real estate, FMCG and IT stocks traded lower on Monday.

The S&P BSE Sensex recovered 379 points from the day’s low to close at 55,675, down 94 points or 0.17%. The NSE Nifty50, on the other hand, ended at 16,570, down 15 points or 0.09%.

Infosys, ICICI Bank, Kotak Bank, ITC and Tata Steel were the large cap stocks that helped the 30-pack index rebound, although Asian Paints, Reliance Industries, Bajaj Finserv, HDFC, L&T, HUL, Ultratech Cement, and Axis Bank lobbied.

Meanwhile, in the broader market, the BSE MidCap index fell 0.15%, while the BSE SmallCap index lost 0.54%.

Global indices

European stocks advanced on Monday, with the pan-European Stoxx 600 adding 0.9% in early trading. On Wall Street, futures linked to the three major indices rose more than 1% each.

In Asia, Nikkei gained 0.56%, Kospi climbed 0.4% and Shanghai Composite gained 1.3%.


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