Indian stocks shrugged off a weak start Monday morning and climbed higher in afternoon trade as traders indulged in some hectic bargain hunting following the previous session’s sharp plunge.
However, with caution setting in as the day progressed, the market pared most of its gains and eventually ended just marginally up.
Information technology stocks posted notable gains, while shares from healthcare, realty, power, energy and PSU banking space drifted lower.
Worries about the detection of a new variant of the coronavirus continued to weigh on sentiment. The
The new variant has been red-flagged by scientists over an alarmingly high number of spike mutations that might make the virus more resistant to vaccines.
The potential of more countries reinstating full lockdowns sparked worries the pandemic could once again weigh down the global economy.
The BSE benchmark Sensex, which climbed 57.626.51, rising more than 500 points from Friday’s closing mark, ended the session with a gain of 153.43 points or 0.27% at 57,260.58.
The broader Nifty50 of the
On Friday, the Sensex and the Nifty had plunged 2.87% and 2.91%, respectively.
BPCL shed more than 2.5%.
The market breadth was very weak. On BSE, as many as 2435 stocks closed weak. 966 stocks moved up and 174 stocks ended flat.