Sensex slips 94 pts, Nifty holds 16,550; Oil India soars 11%, LIC falls 3%

CLOSING BELL: nfosys, ICICI Bank, Kotak Bank, ITC, and Tata Steel were the large-caps that helped the 30-pack index bounce back from lows

CLOSING BELL

Stock market highlights: A gap-down opening was steadily bought into by the afternoon as investors bet on metals, private banks, and auto players. In contrast, most realty, FMCG, and IT stocks traded weak on Monday.  

The S&P BSE Sensex recouped 379 points from the day's low to close at 55,675, down 94 points or 0.17 per cent. The NSE Nifty50, on the other hand, ended at 16,570, down 15 points or 0.09 per cent.

Infosys, ICICI Bank, Kotak Bank, ITC, and Tata Steel were the large-caps that helped the 30-pack index bounce back from lows, even as Asian Paints, Reliance Industries, Bajaj Finserv, HDFC, L&T, HUL, Ultratech Cement, and Axis Bank exerted pressure.

Meanwhile, in the broader market, the BSE MidCap index dipped 0.15 per cent, while the BSE SmallCap shed 0.54 per cent.

Global cues

European stocks advanced on Monday with the pan-European Stoxx 600 adding 0.9 per cent in early trade. On Wall Street, futures linked to the three main indices were up over 1 per cent each.

In Asia, Nikkei gained 0.56 per cent, Kospi climbed 0.4 per cent, and Shanghai Composite added 1.3 per cent.