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Sensex witnesses volatile trading; UltraTech Cement dips 2.2 per cent

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Mumbai (Maharashtra) | May 16, 2022 1:54:45 PM IST
The Indian stock markets' key indices, Sensex and Nifty, were witnessing volatile trading with a positive bias on Monday as losses in infra and IT stocks were offset by gains in banking and auto scrips.

The 30 stock S&P BSE Sensex was trading 63.72 points or 0.12 per cent higher at 52,857.34 points at 12.54 pm, against its previous session's close at 52,793.62 points.

Earlier, the Sensex started the day in the positive at 52,946.32 points and jumped to a high of 53,428.28 points in the morning trade. However, the Sensex slipped into the negative in the afternoon session falling to a low of 52,632.48 points.

The Sensex is trading with a positive bias after six straight sessions of losses. The index had lost 136.69 points or 0.26 per cent on Friday, the last trading session.

The broader Nifty 50 of the National Stock Exchange was trading 44.60 points or 0.28 per cent higher at 15,826.75 points against its previous session's close at 15,782.15 points.

UltraTech Cement slumped 2.17 per cent to Rs 6065.55 after Adani Group clinched a deal to buy Ambuja Cements and ACC from Holcim Ltd. Share prices of Ambuja Cements and ACC have surged while rival UltraTech Cement and Shree Cements have declined.

Asian Paints, ITC, Nestle India, Infosys and Tech Mahindra were among the other major Sensex losers.

State Bank of India surged 2.64 per cent to Rs 456.80. NTPC jumped 2.81 per cent to Rs 148.10. Maruti Suzuki, IndusInd Bank, Kotak Bank, Mahindra & Mahindra and Titan were among the major Sensex gainers. (ANI)

 
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