Market wrap: Sensex, Nifty end slightly higher supported by RIL; mid, smallcaps underperform
Reliance Industries (RIL), while global sentiment was cautious ahead of key macro data and corporate earnings in the week ahead. "Global stocks took a breath on Monday after a surprisingly low reading on Chinese inflation and ahead of data on U.S. inflation and corporate earnings later in the week.
Chinese consumer price figures fell in June to be essentially unchanged from a year before, while producer prices slid deeper into negative territory," reported Reuters. Analysts expect the market to consolidate for some time as it is trading near record-high levels. Upcoming inflation numbers and corporate earnings will give direction to the market.
Sensex opened at 65,482.33 against the previous close of 65,280.45 and touched intraday highs and lows of 65,633.49 and 65,246.40 respectively. Sensex ended with a mild gain of 64 points, or 0.10 per cent, at 65,344.17 while the Nifty closed with a gain of 24 points, or 0.12 per cent, at 19,355.90. Mid and smallcaps underperformed as the BSE Midcap index fell 0.45 per cent while the Smallcap ended 0.26 per cent lower.
In the 30-share pack Sensex, 21 stocks ended in the red while only nine stocks ended with gains. It was the gains in the shares of Reliance Industries that saved the benchmark index. The stock rose 3.78 per cent and alone contributed 302 points to the Sensex index.
Read more: Reliance share climbs to 52-week high after announcement of Jio Financial Services demerger. Mcap hits ₹18 lac crore As many as 226 stocks, including Reliance Industries, Bajaj Auto, Bank of Baroda, Bharti Airtel, Indian Oil Corporation, JSW Steel and Tata Motors, hit their 52-week highs in intraday trade on BSE. Meanwhile, crude oil prices were subdued as investors remained cautious ahead of
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