Equities remain range-bound, FMCG and IT stocks gain

ANI
07 Sep 2020, 22:37 GMT+10

Mumbai (Maharashtra) [India], September 7 (ANI): Equity benchmark indices see-sawed between gains and losses on Monday but remained in a narrow range before closing in the green.

The BSE SP Sensex closed 60 points or 0.16 per cent higher at 38,417 while the Nifty 50 gained by 21 points or 0.19 per cent at 11,355.

Sectoral indices at the National Stock Exchange were mixed with Nifty FMCG and IT up by 0.6 per cent each while Nifty realty dipped by 0.9 per cent.

Among stocks, Bharti Infratel gained by 5.7 per cent to Rs 227.15 per share. HDFC Life and HDFC were up by 3.2 per cent and 1.2 per cent respectively while Dr Reddy's ticked up by 2.3 per cent.

Tata Consultancy Services advanced by 1.6 per cent and HCL Technologies by 1.1 per cent while FMCG major ITC and Hindustan Lever looked up by 1.8 per cent and 1.6 per cent respectively.

Vodafone Idea closed 2.4 per cent up at Rs 12.30 per share after unveiling a new brand identity 'Vi' as part of the revival plan.

However, those which lost were MahindraMahindra, Hero MotoCorp, UPL, GAIL, NTPC, ONGC and Bharti Airtel.

Meanwhile, Asian shares were on the defensive as investors grappled with sky-high valuations against the backdrop of a global economy in the grip of a coronavirus-induced recession.

Japan's Nikkei fell 0.5 per cent and Hong Kong's Hang Seng by 0.43 per cent but South Korea added gains of 0.67 per cent. (ANI)

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