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CLOSING BELL: IT, select auto and banking stocks aided the market recovery on Monday. TCS gained nearly 2 per cent ahead of its Q2 result.

Stock market, BSE, sensex, markets

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	<strong>CLOSING BELL</strong><br />
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	After a dismal start to the trading day, the key bechmark indices recouped losses in the latter half led by renewed buying interest in IT, and select auto and banking stocks. TCS in particular was up nearly 2 per cent ahead of its Q2 results later today. <a href="https://www.business-standard.com/article/markets/tcs-bounces-3-5-off-lows-ahead-of-september-quarter-results-today-122101000524_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	Towards the end, a notable recovery in the US stock futures also aided the sentiment. Meanwhile, elsewhere in Asia, Hang Seng and Shanghai Composite ended with steep loss of up to 3 per cent after China imposed fresh lockdowns and travel restrictions after the number of new daily Covid-19 cases tripled during the weekend holiday.</div>
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		The BSE benchmark index recovered from a low of 57,366, to end the day at 57,991 - down 200 points. The NSE Nifty 50 was down 74 points at 17,241.<br />
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			&quot;Fear of an aggressive rate hike by the Fed on the back of strong employment data in the US, disrupted the global equity trend. Inflation in the US is forecasted to stay high given low supply and high demand scenarios. To bring some parity in the economy, the Fed will have to target to lower demand by increasing the unemployment rate, which is not factored by the market. In addition, rising crude prices and depreciating rupee is increasing the risk of imported inflation in India, affecting the domestic market.&quot; said, Vinod Nair, Head of Research at Geojit Financial Services.<br />
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			Among the Sensex 30 stocks, apart from TCS, Axis Bank rallied nearly 3 per cent. Maruti, Tech Mahindra, Wipro and Infosys were the other prominent gainers.&nbsp;</div>
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			On the flip side, Asian Paints, Titan and ITC slipped nearly 2 per cent each. Reliance Industries, HDFC Bank, HDFC, Nestle India and Kotak Bank were the other notable losers.<br />
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			<strong>Also read:&nbsp; <a href="https://www.business-standard.com/article/markets/analysts-bet-on-tamo-s-india-biz-as-jlr-q2-sales-disappoint-stock-dips-5-122101000479_1.html" target="_blank">Analysts bet on TaMo&#39;s India biz as JLR Q2 sales disappoint; stock dips 5%&nbsp;</a></strong></div>
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		In the broader markets, the BSE Midcap and Smallcap indices were down over 0.5 per cent each. Whereas, among sectors, the BSE IT index was the sole gainer - up nearly 1 per cent. On the other hand, the Consumer Durables, Power, FMCG and Capital Goods indices lost significant ground.&nbsp;</div>
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		The BSE Bankex was down marginally at close, down 0.1 per cent at 44,657, having recovered smartly from the day&#39;s low of 43,990.</div>
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	Among other sectors, shares of shipbuilding & allied services extended their recent outperformance. Mazagon Dock Shipbuilders and Garden Reach Shipbuilders & Engineers logged new highs in trade on Monday. <a href="https://www.business-standard.com/article/markets/shipbuilding-stocks-raly-up-to-11-mazagaon-garden-reach-hit-new-highs-122101000346_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		The overall breadth was fairly negative, with nearly 2,100 declining stocks versus 1,460 advancing shares on the BSE.</div>
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	<strong>Primary Market Update</strong></div>
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	Tracxn Technologies IPO received lukewarm response, and was subscribed only 18 per cent as of 03:30 PM. The retail quota was almost fully subscribed. Here&#39;s what brokerages recommend to do. <a href="https://www.business-standard.com/article/markets/tracxn-technologies-ipo-high-attrition-losses-keep-analysts-apprehensive-122101000513_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Sensex swings 760 pts, ends 200 pts down; Nifty holds 17,200; IT stocks up

Business Standard

Sensex swings 760 pts, ends 200 pts down; Nifty holds 17,200; IT stocks up | News on Markets - Business Standard

Brent Crude off Friday's highs; trades at $97 per bbl

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US equity futures continue losses after weak closing on Wall Street

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Hang Seng leads losses in Asia, sinks over 2%

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US markets drop up to 4% Friday as strong jobs data cements bets for aggressive Fed

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