Indian Stock Indices Begin Their Week On A Steady Note, Sensex & Nifty Remain Flat

Indian stock indices started their week on a steady note, as Sensex and Nifty remained largely unchanged on Monday.

Initial gains were driven by a reduction in the windfall tax on crude oil and favorable global cues, but the indices closed flat by the end of the trading session.

As the first trading day concluded, the Sensex fell by 12 points to 80,425, while the Nifty rose by 31 points to 24,573.

The Nifty Bank index dropped by 149 points to 50,368, while the Midcap Index gained 105 points, ending at 57,761.

Also Read: Sensex and Nifty Dip Slightly Despite CPI Inflation Falling to Five-Year Low

Among the key gainers in the Nifty 50 were Hindalco, BPCL, Tata Steel, Shriram Finance, and LTIMindtree. In contrast, M&M, Bajaj Auto, Axis Bank, IndusInd Bank, and Tata Motors experienced notable declines.

Sectoral performance was also mixed, as the Nifty Auto index fell by 0.9%, and the Nifty Private Bank index declined by 0.5%. Conversely, the Nifty Metal and PSU Bank indices witnessed increase of 1.87% and 1.2%, respectively.

Despite the flat overall performance, broader market indices showed positive momentum, with the BSE MidCap and BSE SmallCap advancing by 0.53% and 1.13%, respectively.

Must Read: Sensex & Nifty Bounce Back From Early Decline, Sensex Gains 286 Points to Reach 79,992

(With Inputs From ANI)