Mumbai: Benchmark indices succumbed to a sudden late-session sell-off to end with modest gains on Monday as investors pared their portfolios amid mixed overseas cues.
Global markets shrugged off an unprecedently fractious G-7 summit and focussed on the upcoming meeting between US President Donald Trump and North Korean leader Kim Jong Un in Singapore.
The BSE Sensex, which had soared over 232 points in intra-day deals, finally closed at 35,483.47 -- up by just 39.80 points. The broader NSE Nifty rose 19.30 points to 10,786.95, after breaching the 10,800-mark in morning trade.
Telecom, consumer durables and healthcare stocks led the gains. Banking stocks too saw buying interest after the government last week constituted a panel for faster resolution of bad loans.
Meanwhile, domestic institutional investors bought shares worth a net Rs 459.44 crore, while foreign portfolio investors sold equities to the tune of Rs 222.50 crore on Friday, provisional data showed.
"Market traded positively during most part of the day supported by favourable global cues. However, a consensus estimate of higher CPI inflation for the month of May at 4.8 percent and caution ahead of FOMC meeting during the week influenced profit booking.
"On the other hand, progressing monsoon and positive outlook on rural economy will give some respite to equity in the near term," said Vinod Nair, Head of Research, Geojit Financial Services.
Among sectoral indices, telecom rose the most by spurting 1.56 percent, followed by consumer durables 1.03 percent, healthcare 0.51 percent, teck 0.41 percent, FMCG 0.37 percent, IT 0.20 percent, capital goods 0.18 percent, infrastructure 0.15 percent, auto 0.12 percent and bankex 0.05 percent.
Realty, metal, oil & gas and power indices ended in the red, falling up to 0.71 percent.
Among the Sensex components, Bharti Airtel topped the gainers list by soaring 3.19 percent, followed by Sun Pharma at 1.29 percent, Dr Reddy's 0.90 percent, Maruti Suzuki 0.84 percent, IndusInd Bank 0.76 percent and Adani Ports 0.74 percent, among others.
On the other hand, Tata Steel fell 1.79 percent, Power Grid 1.21 percent, Coal India 0.72 percent, Hero MotoCorp 0.60 percent, Yes Bank 0.56 percent, ICICI Bank 0.54 percent and HDFC Bank 0.24 percent.
The broader markets ended mixed. The BSE small-cap index rose 0.51 percent, while the mid-cap index shed 0.09 percent.
Overseas, Asian markets ended mixed and European bourses opened higher ahead of the historic meeting between the US President and the North Korean leader.
The Federal Reserve and the European Central Bank are scheduled to announce their policy updates this week.
In the euro zone, Frankfurt and Paris markets were up in their early trade, rising up to 0.36 percent. London's FTSE too gained 0.71 percent.
In the Asian region, Japan's Nikkei rose 0.48 percent, Hong Kong's Hang Seng rose 0.34 percent, while Shanghai Composite fell 0.47 percent. Singapore rose 0.16 percent, while Korea went up 0.76 percent.
Updated Date: Jun 11, 2018 18:15 PM