Sensex, Nifty climb to five-month highs on FII inflows, gains in realty, FMCG shares

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Benchmarks Sensex and Nifty gained about half a percent to close at five-month highs on Monday after continued foreign money inflows and steady trends in Asian and European markets.

The 30-share BSE Sensex Index rose for the second consecutive day by 317.81 points, or 0.51 percent, to settle at 62,345.71, the highest closing level since Dec. 14. During the day, it rose 534.77 points, or 0.86 percent, to 62,562.67.

The broader NSE Nifty index rose 84.05 points, or 0.46 percent, to close at 18,398.85 points, a level not seen since December 20, 2022.

Tata Motors jumps 3%

Among Sensex companies, Tata Motors jumped nearly 3 percent after announcing its quarterly earnings. Integrated Telecoms (ITC), Tech Mahindra, Hindustan Unilever, Larsen & Toubro, Infosys, Tata Steel and Mahindra & Mahindra were other big gainers.

Buoyed by higher domestic demand, pricing measures and easing supply chain issues, Tata Motors reported consolidated net profit of Rs.5,408 crore for the March quarter and aims to improve margins in this financial year despite headwinds.

Biggest losers

Maruti, Tata Advisory Services, Bajaj Finance, Asian Paints, Bajaj Finserv and Nestle were the laggards.

said Vinod Nair, Head of Research at Geojit Financial Services.

economic inflation

Nair added that domestic CPI inflation came out better than expected at 4.7 percent, and CPI inflation declined, confirming the RBI’s decision to raise interest rates.

“Alternate buying into heavyweights from key sectors such as Banking & Finance, Automotive and FMCG is helping indices maintain a positive tone despite the mixed global signals. There are indications in favor of continuing the prevailing trend,” Ajit Mishra, Vice President – Technical Research, said the firm. Religare Broking Ltd.

In the broader market, the BSE small-cap index rose 0.49 percent and the average-cap index rose 0.47 percent.

Real estate, consumer goods indices jump

Among the sectoral indices, real estate prices jumped by 4.32 percent, consumer goods prices increased by 1.09 percent, telecommunications (0.91 percent), capital goods (0.70 percent), information technology (0.63 percent), and automobiles (0.63 percent). per cent) and PNCX (0.56 per cent). cent).

Energy decreased by 0.72 percent, utilities decreased by 0.57 percent, commodities (0.07 percent), and oil and gas (0.01 percent).

Wholesale prices in India fell for the first time in nearly three years in April, as slumping global commodity prices lowered costs for food, fuel and other inputs for producers. Corporate price index inflation has been on a downward trend for the past 11 months and reached (-) 0.92 percent in April.

Foreign institutional investors (FIIs) were the buyers on Friday buying shares worth Rs 1,014.06 crore, according to exchange data.

Foreign investors showed strong interest in buying Indian stocks in May and invested more than Rs. 23,152 crore in the first two weeks.

In Asia, Seoul, Tokyo, Shanghai and Hong Kong markets finished trading in the green. European markets were trading mostly with gains. The US market ended slightly lower on Friday.

Meanwhile, Brent crude, the global benchmark for oil, rose 0.24 percent to $74.34 a barrel.

The rupee fell 15 pesos to 82.33 against the US currency on Monday, affected by the US currency’s strength in overseas markets.