Sensex, Nifty hold gains, in afternoon session

The Sensex and Nifty hit a new record and reached respectively at 33,800 and 10,450 levels in afternoon trade on Monday. The Sensex fell in early trade on profit booking in metal, O&G, banking, and PSU stocks after a recent rally.

Indices opened on lower note and hit fresh intraday low in morning hours trade tracking mixed cues from other Asian stocks. After some range-bound trading in early afternoon trade, fresh buying pushed the Sensex & Nifty to record high levels in afternoon trade.

Except Nifty Bank and Nifty Private Bank indices, all other sectoral indices were in the green, with Nifty Auto index as the top gainer.   Shares of SAIL India, Titan watch co, PNB, ICICI Bank, Oil & Natural Gas Corporation and Tata Motors were the most traded stocks on the NSE. 

Tata Motors, M&M, O&G, Bharti Infratel, Maruti Suzuki, Hindalco , UltraTech Cement , Wipro and Cipla were among the top gainers in the Nifty50 index, whereas HPCL, BCPL, IndusInd Bank, Zee Entr., Sun Pharma, Axis Bank, YES Bank and Tech Mahindra were among the top losers. 

IOC strengthens on plan to pick 38% stake in Rs 5,000 crore Dhamra LNG project in Odisha

 IOC and GAIL (India) will exercise their right to jointly acquire 49% stake in Adani Group’s Rs 5,000 crore Dhamra LNG project in Odisha. While, IOC will take a 38% stake, GAIL will pick up 11% stake in the proposed 5 million tonne per annum liquefied natural gas import terminal in Dharma, being set up by Adani Petroleum Terminal (APTPL). APTPL will also hold a 49% stake in the project and remaining 2% will be held by financial institutions.