Taking a cue from global markets, the benchmark Sensex of the Bombay Stock Exchange on Monday closed the first trading day of 2011 on a positive note. The index gained 52 points, or 0.3%, to end at 20,561.
The broader Nifty of the National Stock Exchange also rose by 0.4% during the day to close at 6,158.
“The beginning to 2011 was certainly good, although one would have liked to see the main indices sustaining early morning’s gains. One has to wait for a few more days to see how the trend unfolds, especially in fund flows from overseas investors,” said Amar, research head, IIFL.
Metal and consumer durables companies emerged as smart gainers on the Sensex and rose by 2.1% and 1.5% respectively. Tata Steel emerged as the biggest gainer among Sensex companies and closed up 3.6%.
The auto sector, which witnessed smart gains in 2010 on the back of a robust demand, came under some pressure as the BSE auto index, which fell by 0.2%, was the weakest performer. Bajaj Auto lost 4.2% and was the biggest loser among Sensex companies. All Asian markets closed in the black and European markets were trading with a gain of over 1% on Monday.