Stock market highlights: Nifty ends around 18600, Sensex gains 99 points;IT, realty, oil &gas shine

Nifty ends around 18600, Sensex gains 99 points;IT, realty, oil &gas shine

Ira Singh
12 June’23

The Indian equity indices concluded the trading session with gains on Monday amid volatility,led by IT, realty,oil &gas.

At close,the Sensex was up 99.08 points or 0.16% at 62,724.71, and the Nifty was up 38.10 points or 0.21% at 18,601.50, according to sources.

Stocks and Sectors

BPCL, HCL Technologies, Infosys, NTPC and Adani Enterprises were top gainers on Nifty, while losers included Power Grid Corporation, Larsen & Toubro, Cipla, Maruti Suzuki and Titan Company.

On the sectoral front, capital goods lost 0.5 percent. Information technology, PSU bank, metal and oil & gas and realty gained 0.5-1 percent, according to sources.

The BSE midcap and smallcap indices added 0.5 percent each.

The Indian rupee traded flat against US dollar ahead of India’s CPI data.India’s retail inflation probably slowed to 4.32 percent in May from 4.7 percent a month earlier, according to a Bloomberg survey.

The Indian rupee opened little changed against the US dollar in a thinly traded market, as traders awaited key CPI data and US Fed policy.On 12th June’23,the home currency was trading at 82.45 a dollar, up 0.01 percent from its previous close of 82.47, according to recent updates.The currency opened at 82.46 a dollar, according to sources.

Experts Take:
Experts believe:’Markets were extremely range- bound to end with a positive bias on the back of firm global markets, as investors were cautiously optimistic ahead of the US FOMC meeting later this week. Although there are indications that the Fed may pause on rate hikes this time, any uptick in key rates could fuel pessimism over global growth and trigger a short-term correction.’

Market experts have recommended five stocks to buy for Monday-BEL, Balrampur Chini, Ujjivan SFB, Paytm and IRCTC.