An Evening Walk Down Dalal Street, 08 Oct '18 | Sensex and Nifty end in the green

After days of bloodbath on D-Street, bulls can finally heave a sigh of relief as the Sensex ended almost 100 points higher. The Nifty, meanwhile, held 10,300-mark and closed above it. But this end was preceded by wild swings that D-Street saw through the day.

Monday’s trade was dominated by trends in financials’ space. Yes Bank led the gainers’ charts as investors bet on reports that its estranged promoters had initiated an out-of-court settlement. Other names such as Kotak Mahindra Bank propelled the market.

Meanwhile, index heavyweights such as Reliance Industries, too, had a huge impact on D-Street as a 6 percent rally on the stock helped boost sentiment.

It was a volatile day of trade as the market kept swinging between high and low points. There was weakness in the metals space, along with pharmaceuticals, and FMCG names as well.

Metals took a hit on the back of weakness in domestic metal prices. Along with it, the news of Norsk Hydro getting a permit in Brazil to use new technology to extend and start Alunorte alumina refinery, the world’s largest, dented metal names. Investors may be worried about additional aluminium supply entering the market.

Among sectors, energy names, along with banks, and auto were the top gainers, while metals, pharma and FMCG names were the big laggards.

At the close of market hours, the Sensex was higher by 97.39 points or 0.28% at 34474.38, while the Nifty was up 31.50 points or 0.31% at 10348.00. The market breadth was negative as 757 shares advanced, against a decline of 1,889 shares declined, while 680 shares were unchanged.