Markets took a breather as Sensex and Nifty closed flat on Monday with consolidation seen on Dalal Street.
The S&P BSE Sensex gained 39.78 points to close at 83,978.49, while the NSE Nifty50 added 41.25 points to end at 25,763.35.
Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic market ended on a marginal positive note as profit booking was visible at the higher levels due to the absence of fresh domestic triggers.
“While the broader market outperformed since the quarterly earnings are steering investors’ preference to take a short- to medium-term view. The PSU Banking index continued to be a preferred bet for investors, led by healthy earnings and improving asset quality. In contrast, IT stocks declined amid fading expectations of a U.S. Fed rate cut, while a trade truce between the US and China eased the demand for safe haven assets,” he added.