In the volatile trade session on Monday (November 18), the benchmark indices ended marginally lower. The Sensex was down 72.50 points at 40284.19, while Nifty was down 11 points at 11,884.50. Among major gainers on the Nifty include Bharti Airtel, Tata Steel, UPL, Hindalco Industries and BPCL, while major losers were Yes Bank, M&M, Bajaj Auto, Britannia Industries and Hero MotoCorp.
During the early trade on Monday, Sensex advanced by 135 points due to PSU bank stocks. It opened higher at 40,431.08,from its Friday`s close of 40,356.69, while Nifty added 35.80 points to trade at 11,931.25. Yes Bank, Mahindra and Mahindra, ONGC were the top losers during the early trade.
SBI, beneficiary of telecom sector respite and Essar steel resolution, and BPCL surged after FM`s statement of targeting completion of its divestment by March, Jasani added.
Bharti Airtel advanced over 3 per cent to claim the top gainer`s spot followed by State Bank of India, by nearly 2 per cent.
Meanwhile, Asian shares blipped higher after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that more stimulus was on the way for the world`s second-largest economy.
China`s central bank cut rates on seven-day reverse repurchase agreements by five basis points to 2.50%, a move that nudged the yuan higher while lowering Chinese bond yields.
(With Agency Inputs)