Key benchmark indices recovered from losses to close marginally higher on Monday. The market opened lower as broader sentiment was diminished after Standard & Poor’s (S&P) retained the country’s sovereign rating which kept its India rating unchanged at the lowest investment grade of BBB–with a stable outlook. Traders also waiting for the GDP data for the third quarter due on 30 Nov 2017.
The BSE Sensex closed higher by 45.20 points at 33,724.44, while the NSE Nifty 50 gained 9.85 points to close at 10,399.55.
Stocks of Power generation companies such as NTPC, GMR Infrastructure, Torrent Power, Reliance Power, Reliance Infrastructure, CESC, Tata Power Company and NHPC edged higher, whereas Jaiprakash Power Ventures and JSW Energy edged lower.
NTPC, Axis Bank, Zee Entertainment and ONGC gained the most on Nifty50, while Infosys, HPCL, Bajaj Finance, Adani Ports, and Tata Motors were the top losers. Nifty Midcap and Nifty bank index have close at record closing highs.
Financial stocks lead support while the Information technology and FMCG stocks were top laggards, ahead of expiry of November futures & options (F&O) contracts and OPEC meeting on oil output cut later this week.
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