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Market ends flat after FM announces steps to boost demand; ITC gains 3%
All that happened in the markets today
Paring the day's gains, the benchmark indices ended flat with a positive bias on Monday as the government's stimulus measures to boost demand failed to cheer investors. Finance Minister Nirmala Sitharaman today announced the government's two-pronged move to boost capital expenditure and stimulate consumer demand.
The S&P BSE Sensex ended 84 points, or 0.21 per cent higher at 40,594 levels while NSE's Nifty settled at 11,931, up 17 points, or 0.14 per cent. India VIX gained over 3.6 per cent to 21.12 levels.
In the broader market, the S&P BSE MidCap index slipped 0.48 per cent while the S&P BSE SmallCap index ended 0.4 per cent lower.
Global stocks hit five-week highs on Monday led by China’s post-holiday surge as investors bet on a steady recovery for the world’s no. 2 economy, but worries about rising Covid-19 infections capped gains in Europe and the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 per cent to 2-1/2-year highs, buoyed by a 3 per cent gain in Chinese blue chips and a 2.2 per cent rise by Hong Kong’s Hang Seng index.
In commodities, oil prices fell as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended and US producers began restoring output after Hurricane Delta.
(With inputs from Reuters)