Markets reverse early gains but close in the green

ANI
18 Mar 2019, 16:33 GMT+10

Mumbai (Maharashtra) [India], Mar 18 (ANI): Share markets reversed early gains on Monday despite strong fund inflows and advances in Asian peers but ended higher after a volatile session.

Traders booked profits as a majority of sectoral indices witnessed new highs in the morning session.

The BSE SP Sensex closed 71 points up to close at 38,095, while the NSE Nifty 50 was up 35 points at 11,462.

Heavy selling was witnessed during the afternoon session in auto, pharma, and public sector bank stocks.

However, markets regained momentum as the rally was led by Reliance Industries, HDFC Bank, Power Grid, Bajaj Finance, and HDFC Bank.

Indian Oil was a prominent gainer and closed 3.5 per cent higher at Rs 162.90. Dewan Housing Finance closed 3.6 per cent higher at Rs 135.85 after Chief Financial Officer Santosh Sharma was redesignated to another role.

But among the drags were Maruti, Hero MotorCorp, Eicher Motors, Grasim and Vedanta.

Meanwhile, Asian stock markets also traded higher as investors awaited developments on the US-China trade talks and US Federal Reserve policy meeting in focus.

Market experts said Fed policymakers could lower their interest rate forecasts. (ANI)

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