Sensex, Nifty edge higher on gains in auto, energy stocks

Mumbai, Jan 17: Benchmark BSE Sensex rose by 85 points on Monday following gains in auto, IT, energy and FMCG stocks amid a firm trend in European markets.

In a largely range-bound session, the 30-share index ended 85.88 points or 0.14 percent higher at 61,308.91. Similarly, the NSE Nifty advanced 52.35 points or 0.29 percent to 18,308.10.

Ultratech Cement was the top gainer in the Sensex pack, surging nearly 3 percent, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI and HUL.

On the other hand, HCL Tech, HDFC Bank, Axis Bank, Tech Mahindra, PowerGrid, and Sun Pharma were among the laggards, falling up to 5.89 percent.

Indian markets opened marginally positive tracking mixed Asian market peers as data showed Chinese economy grew at 8.1 per cent in 2021, marginally lower than expectations of 8.4 percent.

“During the afternoon session, markets showed some strength and traded in positive territory as traders were getting relief, as foreign portfolio investors (FPIs) reversed the three-month selling streak in January by investing a net Rs 3,117 crore in Indian markets. However, the gains were capped during the day due to subdued performance by financials, IT and healthcare, Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers, said.

The rupee slipped by 9 paise to close at 74.24 (provisional) against the US dollar.

Elsewhere in Asia, bourses in Shanghai and Tokyo ended up, while Hong Kong and Seoul closed in the red. Stock exchanges in Europe were trading with gains in mid-session deals.