Markets close Marginally high; Auto, IT Stocks Witness Selling

Key benchmark indices ended higher on Monday after a highly volatile trade on Monday. The BSE Sensex ended higher at 38,098 by 70.75-points.  The NSE Nifty50 the rose 35.30 points to 11,462.

Indian Oil, Hindustan Petrolium, Bajaj Finance, Reliance and Axis bank were the top gainers on the Nifty, whereas major losers are Maruti Suzuki, Hero Motocorp, Wipro, Bharti Airtel and Eicher Motor.

Among the sectoral indices on the Nifty, stocks in Auto, IT and Pharma indices witnessed selling pressure, while heavy buying was seen in the realty, Bank Nifty, Private bank, PSU bank and FMCG.

Among buzzing stocks, Bombay Dyeing rose 8.81 percent to Rs145.40 as Mumbai project got approved.

Shares of Dewan Housing Finance (DHFL) gained2.76% to Rs135.85 as its board approved stake sale in Avanse Financial.

Shares in Maruti Suzuki slipped 2.57% to Rs6902 on reports of production cut due to lower demand.

RCom drops 7% after NCLAT rules out plea to release money from the bank, while Shares of Bandhan Bank falls 4.08% at Rs490.80 after getting RBI approval for merger.