Mumbai : After a three-session losing spell, market benchmark Sensex on Monday recovered over 21 points in a choppy trade to end at 28,082.34, helped by gains in metal, consumer durables and IT stocks as participants widened their bets ahead of macro economic data.

 Optimistic purchases ahead of August IIP data due later in the day and investors’ upbeat sentiment after the second US presidential debate indicated Democrat Hillary Clinton was having an edge over Republican nominee Donald Trump also influenced the domestic market.

However, participants were seen trimming their portfolios at every rise in view of holiday-shortened week as stock exchanges will remain closed tomorrow for “Dussehra” and on Wednesday for “Muharram”.

“Domestic market was in a lacklustre mood ahead of holidays and traded within a narrow range but with a positive bias. Macro data like IIP (later today) and CPI & WPI (later this week) will be keenly watched, while the focus would be on Q2 results which start this week,” Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services Ltd, said.

Metal stocks were back in demand on the bourses, tracking a firm trend in base metals in global market.

Among metal stocks, Tata Steel emerged top gainer by climbing 2.71 per cent to Rs 417.40, Vedanta surged 2.36 per cent to Rs 199.40, while Hindalco ended 1.65 per cent higher at Rs 160.65. The broader NSE Nifty too regained the key 8,700-mark.

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Free Press Journal