Monday’s range-bound trading saw the benchmark Sensex settle almost flat as investors booked profits in index heavyweights due to elevated worries over valuation.
The 30-share BSE Sensex ended the day at 73,895.54, up 17.39 points, or 0.02 percent. The barometer saw two low points, 73,786.29 and 74,359.69, respectively.
The whole NSE Nifty closed at 22,442.70, down 33.15 points, or 0.15 percent.
Kotak Mahindra Bank saw a 5% increase from the Sensex basket after the company’s 25% increase in net profit for the March quarter, which came at the expense of a 5% decline in core income because of tight interest margins.
Among the other big winners were IndusInd Bank, Tech Mahindra, Mahindra & Mahindra, Sun Pharma, Tata Consultancy Services, and Hindustan Unilever.
Titan fell 7% after their results for the March quarter did not satisfy investors.
The other behinders were Larsen & Toubro, Bajaj Finance, Power Grid, NTPC, the State Bank of India, and Bajaj Finance.
The head of research at Geojit Financial Services, Vinod Nair, said that the domestic indexes moved within a certain range.
He said, “There was also significant selling pressure on the broader indices as a result of profit-booking and valuation concerns.”
The benchmark for world oil, Brent crude, increased by 0.80% to USD 83.62 per barrel.
Exchange data shows that on Friday, stocks worth Rs 2,391.98 crore were offloaded by foreign institutional investors (FIIs).
Shanghai and Hong Kong were established in the positive territory of Asian markets. The markets in South Korea and Japan were closed on holidays.
The European markets were seeing increases in trade. Wall Street closed Friday’s trading session with notable gains.
Billionaire investor Warren Buffett said that his conglomerate holding firm, Berkshire Hathaway, would want to “in the future” investigate the “unexplored” prospects in the Indian market.
Speaking on Friday at Berkshire’s annual meeting, Buffett was questioned about the potential of Berkshire doing research in India, the fifth-largest economy in the world, by Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund that invests in Indian stocks.
The benchmark for the BSE fell 732.96 points, or 0.98 percent, to end the day at 73,878.15. Additionally, the NSE Nifty fell to 22,475.85, a loss of 172.35 points, or 0.76 percent.