Sensex rises 64 points, Nifty settles above 19,350; Reliance Industries jumps 4%
The 30-share BSE Sensex pack rose 64 points or 0.10 per cent to close at 65,344; while the broader NSE Nifty index moved 24 points or 0.12 per cent up to settle at 19,356. However, mid and smallcap shares finished on a weak note, with the Nifty Midcap 100 down 0.38 per cent and Nifty Smallcap 100 falling 0.58 per cent. Fear index, India VIX, slipped 0.60 per cent to 11.46.
- Jul 10, 2023,
- Updated Jul 10, 2023 4:02 PM IST
Indian equity benchmarks on Monday traded higher amid a choppy session. The domestic indices climbed today led by strong gains in energy and metal stocks. The 30-share BSE Sensex pack rose 64 points or 0.10 per cent to close at 65,344; while the broader NSE Nifty index moved 24 points or 0.12 per cent up to settle at 19,356. However, mid and smallcap shares finished on a weak note, with the Nifty Midcap 100 down 0.38 per cent and Nifty Smallcap 100 falling 0.58 per cent. Fear index, India VIX, slipped 0.60 per cent to 11.46.
On the global front, Asian markets were traded on a mixed note today. Back home, buying interest in select index heavyweights such as Reliance Industries, Tata Steel, Hindustan Unilever (HUL), Tata Motors and Kotak Mahindra Bank also lifted the indices higher.
"Indian equities faced broad-based weakness but the benchmarks managed to stay marginally positive with the support of strong buying in heavyweight stocks. The weakness was led by IT stocks, as the sector is set to kick off the Q1 result season with expectations of soft earnings. Additionally, cues from the US markets are unfavourable, as concerns about another rate hike persist despite expectations of a fast cooling of future US CPI inflation data," said Vinod Nair, Head of Research at Geojit Financial Services.
Only two out of the 15 sectoral indices on NSE settled in the green. Nifty Oil & Gas and Nifty Metal outperformed the index by rising 0.59 per cent and 1.69 per cent, respectively. Nifty IT, Nifty FMCG, Nifty Consumer Durables and NIfty Auto capped gains today.
On the stock-specific front, Reliance Industries (RIL) emerged as the top Nifty gainer as the stock jumped 3.86 per cent to close at Rs 2,735.25. The oil-to-retail conglomerate soared after the company's unit Reliance Retail approved a share capital reduction plan. The company has also set July 20 as the record date for the demerger of its financial services business into Reliance Strategic Investments.
Tata Steel, JSW Steel, Bharti Airtel and HDFC Life gained up to 3.27 per cent.
Also, Mazagon Dock Shipbuilders, Aegis Logistics, IIFL, Sun Pharma Advanced surged up to 9.26 per cent.
In contrast, HCL Tech, Titan, PowerGrid, Tata Consultancy Services (TCS) and Hindustan Unilever (HUL) slipped up to 3.08 per cent.
Out of a total of 3,830 stocks that traded during the day on BSE, 2,196 settled with losses while 1,478 others ended higher. The rest 156 stocks stayed unchanged.
Also read: PNB shares at Rs 80? PSU bank may clock up to 470% rise in Q1 profit
Indian equity benchmarks on Monday traded higher amid a choppy session. The domestic indices climbed today led by strong gains in energy and metal stocks. The 30-share BSE Sensex pack rose 64 points or 0.10 per cent to close at 65,344; while the broader NSE Nifty index moved 24 points or 0.12 per cent up to settle at 19,356. However, mid and smallcap shares finished on a weak note, with the Nifty Midcap 100 down 0.38 per cent and Nifty Smallcap 100 falling 0.58 per cent. Fear index, India VIX, slipped 0.60 per cent to 11.46.
On the global front, Asian markets were traded on a mixed note today. Back home, buying interest in select index heavyweights such as Reliance Industries, Tata Steel, Hindustan Unilever (HUL), Tata Motors and Kotak Mahindra Bank also lifted the indices higher.
"Indian equities faced broad-based weakness but the benchmarks managed to stay marginally positive with the support of strong buying in heavyweight stocks. The weakness was led by IT stocks, as the sector is set to kick off the Q1 result season with expectations of soft earnings. Additionally, cues from the US markets are unfavourable, as concerns about another rate hike persist despite expectations of a fast cooling of future US CPI inflation data," said Vinod Nair, Head of Research at Geojit Financial Services.
Only two out of the 15 sectoral indices on NSE settled in the green. Nifty Oil & Gas and Nifty Metal outperformed the index by rising 0.59 per cent and 1.69 per cent, respectively. Nifty IT, Nifty FMCG, Nifty Consumer Durables and NIfty Auto capped gains today.
On the stock-specific front, Reliance Industries (RIL) emerged as the top Nifty gainer as the stock jumped 3.86 per cent to close at Rs 2,735.25. The oil-to-retail conglomerate soared after the company's unit Reliance Retail approved a share capital reduction plan. The company has also set July 20 as the record date for the demerger of its financial services business into Reliance Strategic Investments.
Tata Steel, JSW Steel, Bharti Airtel and HDFC Life gained up to 3.27 per cent.
Also, Mazagon Dock Shipbuilders, Aegis Logistics, IIFL, Sun Pharma Advanced surged up to 9.26 per cent.
In contrast, HCL Tech, Titan, PowerGrid, Tata Consultancy Services (TCS) and Hindustan Unilever (HUL) slipped up to 3.08 per cent.
Out of a total of 3,830 stocks that traded during the day on BSE, 2,196 settled with losses while 1,478 others ended higher. The rest 156 stocks stayed unchanged.
Also read: PNB shares at Rs 80? PSU bank may clock up to 470% rise in Q1 profit