Equity gauges end flat, Yes Bank falls 3 pc

Equity benchmark indices ended in the green on Monday but last hour selling pressure erased all intra-day gains.

The BSE S & P Sensex closed 52 points higher at 37,402 while the Nifty 50 was up by six points to 11,054.

At the National Stock Exchange, sectoral indices were mixed with IT, media, pharma, private banks, and realty in the positive zone.

Among stocks, Sun Pharma was the top gainer with a margin of 2.7 per cent at Rs 426 per share while Tech Mahindra was up by 2.2 per cent.

The other prominent gainers were Axis Bank, Bharti Infratel, Titan, Hindalco, Wipro, ICICI Bank, and Reliance Industries.

However, Yes Bank was down by 3.3 per cent and closed at Rs 76.80 per share. Grasim, Indiabulls Housing Finance, GAIL, and Coal India lost between 1.5 and 1.6 per cent each.

Meanwhile, Asian stock markets tracked the Wall Street's Friday rally on hopes of more stimulus from central banks around the world to prevent a global recession.

In China, the Shanghai Composite Index rose 2.1 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 1 per cent. South Korea's KOSPI advanced 0.6 per cent and Japan's Nikkei rose 0.7 per cent.

The Hang Seng index rose by 2.27 per cent as Hong Kong geared up for more anti-government protests later this week.