Domestic stock markets edged higher after a flat start on Monday tracking a sluggish trade across Asian equities, amid concerns about a prolonged impact of the coronavirus pandemic on global growth. The S&P BSE Sensex index gained 94 points – or 0.24 per cent – to 38,939.82 at the strongest level recorded in early deals, having begun the day down 33.13 points at 38,812.69. The broader NSE Nifty 50 benchmark hovered within a 11,492.15-11,528.15 range, mostly holding on to the positive territory compared to its previous close of 11,504.95.
The Sensex traded 20.17 points – or 0.05 per cent – higher at 38,865.99, while the Nifty was up 19.00 points – or 0.17 per cent – at 11,523.95.
HCL Tech, TCS, Zee Entertainment, Infosys and Mahindra & Mahindra trading between 1.22 per cent and 4.15 per cent higher, were the top gainers in the Nifty basket of 50 shares.
On the other hand, Bajaj Auto, GAIL, Cipla, ICICI Bank and Nestle, trading between 1.25 per cent and 1.54 per cent lower, were the worst hit among 36 laggards in the benchmark index.
The National Stock Exchange’s India VIX index – a gauge of the expectation of volatility in the near term – climbed up as much as 3.49 per cent amid choppy trade.
Asian shares held tight ranges on Monday, as investors awaited developments on US fiscal stimulus and coronavirus vaccines amid a resurgence of infections in Europe.