• Source:PTI
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Stock Market Closing: The benchmark Sensex ended barely changed in a range-bound trade on Monday as investors booked profits in index heavyweights amid concerns over high valuations. The 30-share BSE Sensex ended at 73,895.54, up 17.39 points or 0.02 percent. The broader NSE Nifty closed at 22,442.70, down 33.15 points or 0.15 percent.

Kotak Mahindra Bank jumped 5 percent after the company reported a 25 percent rise in its March quarter net profit at Rs 5,302 crore, but core income fell due to narrow interest margins.

Tata Consultancy Services, Hindustan Unilever, Mahindra & Mahindra, Sun Pharma, Tech Mahindra and IndusInd Bank were the other major gainers. Titan fell 7 percent after March quarter earnings failed to impress investors. State Bank of India, NTPC, Power Grid, Bajaj Finance and Larsen & Toubro were the other laggards.

Global oil benchmark Brent crude rose 0.80 percent to $83.62 per barrel. Foreign institutional investors (FIIs) sold equities worth Rs 2,391.98 crore on Friday, as per exchange data.

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Among Asian markets, Shanghai and Hong Kong closed in positive territory. Markets in Japan and South Korea were closed for holidays. European markets were trading with gains. Wall Street ended Friday with significant gains.
On Friday, the BSE benchmark had closed 732.96 points or 0.98 percent lower at 73,878.15. NSE Nifty had also fallen 172.35 points or 0.76 percent to 22,475.85.

Rupee closes 5 paisa lower

The rupee on Monday gave up its initial gains and closed the day 5 paise lower at 83.50 (provisional) against the US dollar due to higher crude oil prices. Forex traders said a weak trend in domestic equities also weighed on investor sentiment.

At the interbank foreign exchange market, the local unit opened at 83.43, then touched an intra-day high of 83.42 and a low of 83.50 against the greenback. The rupee finally closed at 83.50 (provisional) against the dollar, showing a decline of 5 paise over its previous close. On Friday, the rupee had closed 1 paise higher at 83.45 against the US dollar.

(With PTI's Input)

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