Indian equity indices ended on a flat note on Monday. The Nifty 50 rose 31.50 points or 0.13% to settle the day’s trading at 24,572.65. The Sensex settled 12.16 points or 0.02% lower at 80,424.68. Reliance Industries, TCS, Tata Steel, Hindalco, and NTPC were the top five major contributors on Monday. 

Sectoral Index

The Bank Nifty rose 148.55 points or 0.29% to end the session at 50,368.35. Outperforming the overall markets, the Nifty Midcap 100 settled 105 points or 0.18% higher at 57,760.90. In the broader markets, smallcap and midcap stocks closed in the green.

“The Indian market failed to catch up with the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand. However, oil stocks gained momentum with the reduction in windfall tax on crude oil. The recent healthy US economic data diminished the likelihood of a US recession, while a slide in the dollar index supp…