Equities close on a flat note, Tata Motors up by 4.3 pc

Equity parameters erased early gains due to profit-booking by traders on Monday and closed flat after a choppy session.

The BSE S & P Sensex closed 17 points lower at 41,558 while the Nifty 50 edged up by 15 points at 12,261.

Sectoral indices at the National Stock Exchange (NSE) were mixed with Nifty PSU bank tumbling by 1.17 per cent. However, Nifty auto gained by 1.51 per cent and metal by 1.2 per cent.

Among stocks, Tata Motors emerged as the star of the day by adding gains of 4.31 per cent to wind up at Rs 183.75 per share. Eicher Motors was also up by 2.6 per cent while UPL, Nestle India and Vedanta were up by 1.48 to 1.82 per cent.

 

However, banking majors had a bad time with Yes Bank down by 1.1 per cent, ICICI Bank by 0.9 per cent, Axis Bank by 0.5 per cent and state-owned State Bank of India by 0.8 per cent.

IT stocks too were in the loser's stand with Tata Consultancy Services down by 0.7 per cent and Infosys by 0.6 per cent. The other prominent losers were IndianOil Corporation, Hindustan Lever, Dr Reddy's and Asian Paints.

Meanwhile, Asian shares were mixed with Japan's Nikkei stock index sliding by 0.36 per cent and Shanghai Composite by 0.08 per cent. But Hong Kong's Hang Seng moved up by 1.3 per cent and South Korea's Kospi by 0.29 per cent.

Easing trade war worries and reduced uncertainty over Britain's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month.