Sensex Today: Indian shares advanced on Monday, led by heavyweight Reliance Industries, ahead of the corporate earnings for the June quarter. The S&P BSE Sensex hit a high of 65,633 on Monday and thereafter slipped into red to a low of 65,246 for a brief period before signing-off the day with a gain of 64 points at 65,344. The NSE Nifty 50 was up 24 points at 19,356.
Reliance Industries alone contributed 302 points to the BSE benchmark today, as the stock ended nearly 4 per cent higher. The company has fixed July 20, 2023 as the record date to determine shareholders entitled to receive shares in its new financial services entity.
Tata Steel was the other major gainer among the Sensex 30 shares, up 3.3 per cent. Bharti Airtel, Sun Pharma and IndusInd Bank were the other prominent gainers. Whereas, HCL Tech, Titan and PowerGrid Corporation slipped 2-3 per cent each.
In the broader market, the BSE MidCap index slipped 0.5 per cent, while the SmallCap index declined 0.3 per cent.
Debutant Cyient DLM finished with a solid gain of almost 59 per cent at Rs 421 when compared with its issue price of Rs 265 per share.
Vinod Nair, Head of Research at Geojit Financial Services, said: “Indian equities faced broad-based weakness, but the benchmark 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.”
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