Sensex, Nifty Snap Three-Day Losing Streak Aided By FMCG, Auto, Financials: Market Wrap
India's stock benchmarks recovered from a volatile start to log gains and snap a three-day losing streak.
India's stock benchmarks recovered from a volatile start to log gains and snap a three-day losing streak, aided by FMCG, auto and financials stocks, amid caution in global equities, ahead of the U.S. Federal Reserve's two-day FOMC meet scheduled to start on Tuesday.
The Sensex gained 300 points (0.51%) to close at 59,141.23. The Nifty added 0.5% to close at 17.622.25.
Today, 34 of the Nifty 50 stocks advanced while 16 fell.
Mahindra & Mahindra Ltd., Bajaj Finance Ltd., SBI Life Insurance Co., Adani Ports and SEZ Ltd., and Hindustan Unilever Ltd. were among the top gainers.
The broader indices underperformed their larger peers with both the smallcap and midcap measures losing nearly 0.2%.
Ten of the 19 sectoral indices compiled by BSE Ltd. advanced with the FMCG gauge rising 1%. On the flip side, telecom and metal gauges fell over 1%.
The market breadth is skewed in favour of bears. About 1,723 stocks rose, 1,890 fell and 136 remained unchanged.