The Indian equity benchmarks on Monday settled in green led by gains in automobile stocks. The 30-share BSE Sensex rose 86 points or 0.14 per cent to close at 61,309, while the broader NSE Nifty moved 52 points or 0.29 per cent higher to finish at 18,308.
During the day, both the indexes swung between gains and losses amid weakness in pharma and financial shares before settling on a positive note. Mid- and small-cap shares recorded gains as Nifty Midcap 100 index jumped 0.16 per cent and Nifty Smallcap 100 index soared 0.60 per cent.
Nine out of the 15 sector gauges — compiled by the National Stock Exchange — settled in green. Nifty Auto outperformed the index by climbing as much as 2.05 per cent.
On the stock-specific front, Hero MotoCorp was the top Nifty gainer as the stock surged 5.11 per cent to ₹ 2,701. Grasim Industries, ONGC, Tata Motors and UltraTech Cements were also among the gainers.
Auto stocks rose led by a 4.99 per cent jump in Hero Motocorp. The two-wheeler maker said it will invest about ₹ 420 crore in electric vehicle (EV) firm Ather Energy. On the other hand, Maruti Suzuki India rose 2.08 per cent after it hiked prices and Tata Motors was up 2.80 per cent after it was reported that the carmaker is planning to make 50,000 EVs in the next fiscal year.
Also, billionaire Rakesh Jhunjhunwala-backed Metro Brands rallied 20 per cent after the company reported a 54.63 per cent jump in consolidated net profit for the third quarter ended December 2021.
On the flipside, HCL Technologies, HDFC Bank, Cipla, Axis Bank and Britannia were among the losers.
Shares of HCL Tech fell 5.89 per cent as the IT services provider reported a 13 per cent drop in its third-quarter net profit.
The overall market breadth stood positive as 2,303 stocks advanced while 1,298 declined on BSE.
On the 30-share BSE platform, UltraTech Cements, Mahindra & Mahindra, Maruti, Tata Steel, TCS and L&T attracted the most gains with their shares rising as much as 2.75 per cent.
HCL Tech, HDFC Bank, Axis Bank, Tech Mahindra, PowerGrid and Sun Pharma were among the losers.