Markets closed flat; Metal, Banking gain

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Indian stock market benchmark indices closed lower on Monday amid profit booking seen in  HDFC Bank, Reliance industries, and ICICI Bank.

At the closing bell, the Sensex settled 73-points lower to close at 40,284, while the Nifty50 of the NSE Sipped 11 points to settle at 11,884.50. Get Nifty Options Tips by just clicking the link.

Airtel, TataSteel, UPL, Hindalco and Bharat Petroleum were among major gainers on the Nifty, while losers were YesBank, Bajaj Auto, Britannia, M&M and Hero MotoCorp.

Among sectoral Nifty stocks, auto, FMCG and Fin-services, declined, while media, metal, pharma, PSU bank, PSU Bank and Private bank shares advanced.

The Nifty Metal index rose 1.79% to 2,543.50. Tata Steel, Hindalco, Sail, JSW Steel and Jindadl Steel were up between 2 to 4.4% in range. Shares of Vedanta, moil, Hindustan Zinc also gained in between 1 to 1.5%

The Nifty PSU Bank index also rose 1.43% to 2,492.60. Bank-of-India, CanaraBank, UnionBank, SyndicateBank, Bank-of-Baroda and Indian Bank were up between 2 to 3% in range. Shares of J&K Bank, SBI, PNB and Oriental bank of Commence gained at minimum levels.
Among stocks, Glenmark pharmaceuticals jumped over 21.595 to Rs.366-per share after CLSA upgraded the stock from SELL to BUY and increased target price to Rs410-apiece from Rs350/- earlier.
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