Mumbai, Sep 8
The Indian equity indices ended the session slightly up on Monday, amid buying in auto and metal stocks. The domestic indices soared high in the early trade, boosted by the GST reforms announcement, optimism around the ease in India-US relationship, and the rate cut announced by major Indian automakers.
However, the indices lost most of their gains in the last trading hours due to a sell-off in IT heavyweights and profit booking.
Sensex closed at 80,787.30, up 76.54 points or 0.09 per cent. The 30-share index opened the session with a decent gap-up at 80,904.40 against the last session's closing of 80,710.76, buoyed by GST rationalisation and bullish momentum in auto and metal stocks. The index jumped around 400 points to hit an intraday high at 81,171.38.
Nifty settled the session at 24,773.15, up 32.15 points or 0.13 per cent.
"The domestic market failed to sustain its early gains as a late-session sell-off reflected the prevailing 'buy-on-dips, sell-on-rallies' strategy, highlighting investor caution," said Vinod Nair, Head of Research, Geojit Investments Limited.