Stock Market: Sensex Gains Marginally By 60 Points, Nifty Trades Above 18,550.Realty Leads
Stock update: On the 30-share Sensex platform, Infosys, HCL, Bajaj Finance, Tata Steel, Airtel, TCS emerged early gainers
The two key equity benchmarks, Sensex and Nifty, on Monday opened with marginal gains amid volatility, as investors await consumer inflation for May and IIP data for April later in the day. At 9.40 am, the BSE Sensex climbed 62 points to 62,687. On the other hand, the NSE Nifty50 was trading at 18,586, up 23 points.
On the 30-share Sensex platform, Infosys, HCL, Bajaj Finance, Tata Steel, Airtel, TCS emerged early gainers. On the flip side, L&T, Titan, Reliance, UltraCemco, Axis Bank, IndusInd Bank were among the losers. Among specific stocks, Go Fashion tanked 5 per cent. Sequoia Capital was said to sell up to 10.18 per cent stake in the company at Rs 1,135 a share via block deal on Monday.
#ABPLiveStockMarketWatch | Sensex and Nifty opened with marginal gains amid volatility on Monday.
— ABP LIVE (@abplive) June 12, 2023
At 09:44 AM, #Sensex went up by 43 points to 62,669 & #Nifty by 26 points to 18,589
Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/5F0a07zKts
In the broader markets, the BSE Midcap and Smallcap indices rose 0.14 per cent and 0.4 per cent, respectively.
Sectorwise, realty index posted gains, rising 0.9 per cent, while pharma, consumer durables, and private bank indices lagged with slim losses.
In the previous session on Friday, the S&P BSE Sensex declined 223 points to 62,625, while the Nifty50 shut shop at 18,563, down 71 points.
"This week, markets will react to a flurry of important economic data. US inflation data on 13th (June), Federal Open Market Committee (FOMC) rate decision on 14th, European Central Bank (ECB) rate decision on 15th, and India's IIP and May CPI data today will give an indication of the likely economic and market direction. Markets are approaching these data points with cautious optimism as reflected in bullish market conditions," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. PTI SUM SHW
In Asian markets, Tokyo quoted in the green, while Seoul, Shanghai, and Hong Kong were trading lower. The US markets ended in positive territory on Friday.
Global oil benchmark Brent crude declined 1.12 per cent to $73.95 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 308.97 crore on Friday, according to exchange data.
Meanwhile, the rupee gained 7 paise to 82.40 against the US dollar in early trade on Monday amid easing crude oil prices and a positive trend in domestic equities. At the interbank foreign exchange, the rupee opened at 82.45 against the dollar, then rose to 82.40, registering a gain of 7 paise over its previous close.
On Friday, the rupee closed at 82.47 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 103.62.
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