Blue-chip stocks end with minor gains on first day of 2024

Indian blue-chip stocks ended with small gains on Monday as investors booked profits late in the session after the benchmarks extended their record rally into the first day of 2024.

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The blue-chip NSE Nifty 50 settled 0.05% higher at 21,741.90 points, and the S&P BSE Sensex added 0.04% to 72,271.94.

Both indexes had risen about 0.5% each to record highs in the afternoon session, before surrendering gains in the closing minutes.

"Profit booking was visible at higher levels as lingering concerns over Red Sea disruptions pose short-term risks to global supply chains and freight costs," said Vinod Nair, head of research at Geojit Financial Services.