Sensex ends volatile trade 64 points higher; Nifty above 19,350
Reliance Industries. The 30-share BSE benchmark Sensex rose 64 points or 0.10% to settle at 65,344. The broader NSE Nifty surged 24 points or 0.12% to end at 19,356.
In the Sensex pack, Reliance Industries and Tata Steel were the top gainers, rising over 3% each. Bharti Airtel, Sun Pharma, IndusInd Bank, Kotak Bank, and ICICI Bank also ended higher. On the flip side, HCL Tech, Titan, Power Grid, Wipro, TCS, HUL, and Axis Bank closed in the red.
Shares of Titan closed over 3% lower after Morgan Stanley downgraded the stock to 'Equal Weight', citing a temporary pause in the stock's outperformance in the near term. Hindustan Zinc also closed 3% lower following the announcement of a Rs 7 per equity share interim dividend for the current financial year, which will incur an expenditure of Rs 2957.72 crore for the Vedanta subsidiary. Sector-wise, Nifty IT declined 1.24%, and Nifty FMCG fell 0.77%.
Whereas Nifty Metal rose 1.69% and Nifty Oil & Gas gained 0.59%. In the broader market, Nifty Midcap100 dropped 0.38%, and Smallcap100 fell 0.58%. The market breadth was skewed in the favour of the bears.
About 2,196 stocks declined, 1,479 gained, and 155 remained unchanged on the BSE.Global Markets Global stocks took a breath on Monday after a surprisingly low reading on Chinese inflation and ahead of data on US inflation and corporate earnings later in the week. Hong Kong's Hang Seng gained 0.5% and the Shanghai Composite index edged 0.2% higher. Tokyo's Nikkei 225 slipped 0.6%, while the Kospi in Seoul shed 0.2%.
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