Sensex Rises For Second-Session, Nifty Settles At 10,786; Bharti Airtel Rises Over 3%
- At the end of the session today, Bharti Airtel, Sun Pharma, Maruti, Dr Reddy's, Induslnd Bank and Adani Ports were the top gainers on 30-share Sensex pack while Tata Steel, Power Grid, Coal India, Yes Bank and ICICI Bank were the major losers.
- Bharti Airtel, Bajaj Finance and Grasim were leading the pack of Nifty gainers. While the main losers on NSE were Tata Steel, Power Grid, HCL Tech.
- Among sectoral indices, pharma, metals and IT stocks traded higher, while midcaps, too, saw good gains today.
- The rupee strengthened marginally against the US dollar on Monday.
- "While DIIs (Domestic Institutional Investors)Â have been buying consistently, FIIs (Foreign Institutional Investor) have also bought in F and O segment in the last few days. This accompanied by sector specific positive news flows in pharma and PSU Banks has kept the market buoyant", said Viral Berawala, CIO, Essel Mutual Fund.
- Investors are now awaiting May inflation data due on Tuesday for further cues about the local economy.
- Retail inflation likely jumped further in May to a four-month high, primarily driven by a surge in energy prices, according to a Reuters poll of economists, suggesting more policy tightening from the central bank is coming.
- The Nifty PSU bank index gained as much as 1.9 per cent to a two-month high. SBI rose 2 per cent to its highest since 26 February today, while Punjab National Bank jumped 4.7 per cent.
- The Nifty pharma index gained 2.1 per cent, boosted by Sun Pharmaceutical Industries Ltd after the US health regulator issued a "voluntary action indicated status" for the company's Halol plant.
- Inox Wind Ltd dropped 8.6 per cent to a record low after the company said its auditors Patankar & Associates (P&A) resigned, citing 'time constraints'. (With inputs from Agencies)
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