Sensex Gains 125 Points, Metal Majors Crack

Mumbai, Aug 9: Equity benchmark indices ended mildly higher on Monday after a volatile session with select IT stocks witnessing buying interest.

But commodity prices nosedived globally amid stronger dollar and on concerns over spread of Covid-19, taking a toll on metal stocks domestically.

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At the closing bell, the BSE S&P Sensex was up by 125 points or 0.23 per cent at 54,403 while the Nifty 50 ticked higher by 20 points or 0.12 per cent to 16,258.

Sectoral indices were mixed with Nifty private bank up by 0.7 per cent, IT by 0.4 per cent and FMCG by 0.06 per cent. But Nifty metal dropped by 1.8 per cent, PSU bank by 1.5 per cent and realty by 0.7 per cent.

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Among stocks, Mahindra & Mahindra rose by 2.2 per cent to Rs 775.15 per share while Bajaj Auto gained by 0.3 per cent. Tech Mahindra was up by 1.9 per cent, Infosys by 0.8 per cent and Tata Consultancy Services by 0.3 per cent.

Axis Bank, IndusInd Bank, ICICI Bank, Bajaj Finserv, Nestle India, Hindustan Unilever and Dr Reddy's too were in the green.

However, metal stocks fell with Hindalco and JSW Steel losing by 1.6 per cent each and Tata Steel by 1.4 per cent. Tata Consumer Products lost by 1.9 per cent to close at Rs 765.90 per share.

Meanwhile, Asian shares wobbled amid sharp losses in gold and oil prices. Holidays in Tokyo and Singapore made for thin trading conditions. Japan's Nikkei was shut but futures were trading just below Friday's close.

Hong Kong stocks rose 0.4 per cent as banks and property shares gained. South Korea stocks slipped by 0.3 per cent for third day on virus worries.

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