Mumbai: After a day of volatile trade, India's benchmark equity indices closed flat on Monday with weak macroeconomic data and lower-than-expected auto sales in November weighing on sentiment. Investors remained cautious ahead of the Reserve Bank of India's monetary policy statement on Thursday.
BSE Sensex gained 0.02% to close at 40,802.17, while Nifty 50 ended at 12,048.25, down 0.06%.
Data released on Friday showed that India’s economy grew at 4.5% in the September quarter, its weakest pace since 2013 as manufacturing output contracted. The centre's fiscal deficit hit 102.4% of 2019-20 budget estimate at ₹7.2 lakh crore at the end of October, government data showed on Friday. The deficit was at 103.9% of 2018-19 budget estimate in the corresponding month a year ago.
Among sectoral indices, BSE Telecom and BSE Energy gained 2.6% and 1.3% respectively. BSE Auto fell 0.94%, followed by BSE IT which declined 0.85%.
Shares of telecom companies jumped as major private operators Bharti Airtel, Vodafone Idea, and Reliance Jio Infocomm are set to hike tariffs this week. Vodafone Idea jumped 14%, Reliance Industries rose 2.3% and Bharti Airtel gained 3.7%.
Yes Bank fell 6.2% to close at ₹64.05 after several brokerages expressed concerns over the quality of potential investors in the private sector lender.
Maruti Suzuki fell 1.8% to close at ₹7121.30 as the company’s total sales fell 2% to 150,630 units in November.
The BSE Midcap and BSE Smallcap index fell 0.77% and 0.39% respectively. On the BSE, 1,052 shares rose and 1,501 shares fell. A total of 189 shares were unchanged. On Nifty 50, 18 stocks advanced, while 32 stocks declined.
Asian markets ended higher. Japan's Nikkei225 gained 1%, Hong Kong's Hang Seng rose 0.37% and China's Shanghai Composite index surged 0.13%.