Sensex falls 35 points, Nifty down by 12 points in early trade

Indian equity benchmarks made a cautious start on Monday despite mostly positive cues from Asian peers. Markets were trading flat with a positive bias in morning trading as buying in Metal, IT, and Auto stocks supported domestic indices whereas selling in Telecom, Utilities, and Power stocks kept the gains in check.

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The Sensex rose 92.98 points to 61,888.02 in early trading. Similarly, the Nifty gained 44.4 points to 18,394.10. However, later, both benchmark indices turned volatile and were trading on a mixed note. The Sensex quoted 35.7 points lower at 61,759.34, while the Nifty was trading 12.30 points higher at 18,362.

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The broader indices were trading mixed with the BSE Midcap index rising 0.01% and Smallcap index down by 0.05%. The top gaining sectoral indices on the BSE were Metal up by 1.62%, IT up by 0.54%, Auto up by 0.48%, Energy up by 0.39%, Realty up by 0.34%, while Telecom down by 0.41%, Utilities down by 0.37%, Power down by 0.35%, Capital Goods down by 0.17%, PSU down by 0.14% were the top losing indices on BSE.

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Major gainers from the Sensex pack were Power Grid, Tata Steel, Kotak Mahindra Bank, HCL Technologies, Mahindra & Mahindra, and UltraTech Cement.

Among the laggards were Dr. Reddy’s, ICICI Bank, State Bank of India, and ITC.

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Asian markets are trading mostly in green with the Straits Times rising 47.10 points or 1.46% to 3,275.43, Hang Seng surging 508.12 points or 2.93% to 17,833.78, Taiwan Weighted jumping 202.23 points or 1.44% to 14,209.79, KOSPI adding 4.98 points or 0.20% to 2,488.14 and Shanghai Composite was up by 23.13 points or 0.75% to 3,110.42.

US stock markets ended higher on Friday.

The Sensex had rallied 1,181.34 points or 1.95% to settle at 61,795.04 on Friday. The Nifty climbed 321.50 points or 1.78% to close at 18,349.70.

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Brent crude, the international oil benchmark was trading 0.43% higher at USD 96.40 per barrel.

According to stock exchange data, foreign Institutional Investors (FIIs) were net buyers on Friday as they bought shares worth Rs 3,958.23 crore.