Sensex, Nifty End Marginally Higher, Axis Bank Surges

Benchmark indices ended the day marginally higher, led by gains in select banking stocks like IndusInd Bank, and Axis Bank. Software stocks like TCS and Infosys also managed to gain ground pushing the indices into positive territory.

Global cues were mixed with the Dow Futures pointing to higher openings for the US markets, while most of Europe was trading marginally lower.

The Sensex, which had rallied more than 600 points in early morning trade, gave-up almost all of the day's gains.

The Sensex ended the day higher by 83 points, while the Nifty gained 25 points in trade. Reliance Industries, which had opened almost 2 per cent higher in morning after the company along with Jio Platforms announced an investment of Rs 5,683.50 crore by a wholly owned subsidiary of the Abu Dhabi Investment Authority, ended the day almost 1 per cent lower.

Shares in Karnataka Bank fell after reporting of various frauds to the Reserve Bank of India. The stock was down a huge 4 per cent in trade.

Shares in HeroMoto Corp ended the day higher after the company launched an integrated online sales platform called eSHOP.

Meanwhile, inflows into equity mutual fund declines for a second straight month, thanks t the Covid pandemic.