Markets pare early gains to end flat in a session of volatile trade

In a extremely uneven session, fairness benchmarks pared early gains to decide on a flat word on Monday, with the Sensex falling 38 factors amid heavy sell-off in metallic shares.

The 30-share BSE benchmark Sensex encountered volatility throughout the day and settled 37.78 factors, or 0.07 per cent decrease, at 54,288.61. During the day, it hit a excessive of 54,931.30 and a low of 54,191.55.

The broader NSE Nifty declined 51.45 factors, or 0.32 per cent, to end at 16,214.7.

From the Sensex corporations, Tata Steel tumbled probably the most by 12.53 per cent, adopted by UltraTech Cement, ITC, PowerGrid, HDFC, HDFC Bank, HCL Technologies, and Reliance Industries.

In distinction, Mahindra & Mahindra, Maruti Suzuki India, Hindustan Unilever, Larsen & Toubro, Asian Paints, and Kotak Mahindra Bank have been among the many gainers.

“The Nifty once again gave up intraday gains and ended in negative. Metals stocks sold off after the levy of export duties over the weekend on iron ore and some steel intermediates,” mentioned Deepak Jasani, head of retail analysis, HDFC Securities.

Meanwhile, Asian markets in Shanghai, Seoul, and Tokyo ended increased, whereas Hong Kong settled decrease.

Equity exchanges in Europe have been buying and selling principally increased in the afternoon session. Stock markets in the US had ended on a combined word on Friday.

International oil benchmark Brent crude gained 1.15 per cent to $113.8 per barrel.

Foreign institutional traders offloaded shares price Rs 1,265.41 crore on Friday.

(This story has not been edited by Business Standard workers and is auto-generated from a syndicated feed.)

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