Sensex, Nifty end marginally higher; Sun Pharma, Tech Mahindra, Axis Bank among top gainers

Mumbai: Benchmark indices Sensex and Nifty saw their gains restricted on Monday after financial and auto stocks came under selling pressure towards the fag-end of the session. A sense of caution still prevail among investors who are awaiting some measures from the government to arrest demand slowdown in various sectors which has been pulling down the economy. Further, lingering concerns over the health of non-banking finance companies (NBFCs) made markets jittery, leading to sell-offs in financial stocks. After rallying 369 points during the day amid positive cues from global markets, the 30-share Sensex settled 52.16 points, or 0.14 percent, higher at 37,402.49. It hit an intra-day high of 37,718.88 and a low of 37,358.49. The broader NSE Nifty too settled 6.10 points, or 0.06 percent, up at 11,053.90. During the day, it hit a high of 11,146.90 and low of 11,037.85. [caption id=“attachment_7138411” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] Top gainers in the Sensex pack included Sun Pharma, TechM, Axis Bank, L&T, Reliance Industries and ICICI Bank, which rose up to 2.66 percent. On the other hand, Yes Bank, PowerGrid, ONGC, SBI, Mahindra and Mahindra, Hero MotoCorp, Tata Steel, Asian Paints and HDFC Bank were among the major laggards – losing as much as 3.46 percent. Banking stocks fell after Reserve Bank governor Shaktikanta Das ruled out ordering an asset quality review of the systematically important shadow banks for now. According to traders, market rallied tracking positive cues from other Asian markets. However, losses in banking and auto stocks capped the gains. Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Kospi and Nikkei ended significantly higher on rising hopes of stimulus by global central banks to counter economic slowdown. Equities in Europe were also trading on a positive note in their respective early sessions. Meanwhile, the Indian rupee depreciated 30 paise to 71.46 against the US dollar intra-day. Brent crude futures, the global oil benchmark, rose 0.56 percent to $58.97 per barrel.