Sensex Today: Indian shares advanced on Tuesday, with the broader midcap index hitting a fresh record on improved sentiment after data showed domestic retail inflation cooled in May.
The S&P BSE Sensex started trade with a positive gap of 50-odd points, and just did not bother to turn back. The index scaled a high of 63,177 in late deals led by strong gains in index heavyweights – Reliance Industries (RIL), ITC, ICICI Bank and Infosys. The Sensex eventually ended with a gain of 418 points at 63,143.
The NSE Nifty 50 hit a high of 18,729, and settled 115 points higher at 18,716.
In the broader market, the BSE MidCap index soared 1.2 per cent, while the Smallcap added 0.8 per cent on Tuesday. The overall breadth too was fairly positive, with more than 2,100 stocks advancing versus 1,450-odd declining stocks on the BSE.
Among individual stocks, Mankind Pharma rose as much as 4.73% after global brokerage JP Morgan initiated coverage with an “overweight” rating, on hopes of continued market share gains and strong volume growth.
Zee Entertainment lost nearly 7% after the market regulator barred its former chairman, Subhash Chandra, and managing director and chief executive, Punit Goenka, from company boards for one year, potentially delaying its merger with local unit of Japan’s Sony.
Global cues
Asian markets were mixed this morning with Nikkei, Kospi rising up to 1.5 per cent. Strait times and Hang Seng fell 0.5 per cent each.
Overnight in the US, the S&P 500 jumped 0.93 per cent to close at over a 13 month-high. The Dow gained 0.56 per cent and the Nasdaq zoomed 1.53 per cent.
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