Sensex Today: Indian shares rallied to record highs on Thursday, tracking their Asian peers after a moderation in U.S. inflation boosted sentiment and outweighed concerns over higher-than-expected domestic inflation.The rally extended to broader markets, with smallcaps hitting a fresh 52-week high, while the midcaps rose to a record high.Asian markets surged, with the MSCI Asia ex-Japan index jumping nearly 2%, following overnight gains in Wall Street equities after the U.S. consumer price index for June logged the smallest rise in over two years.The moderation in U.S. inflation outweighed concerns over the rise in domestic retail inflation in June, as well as demand weakness flagged by top IT firms Tata Consultancy Services and HCLTech.TCS, however, rose over 1% after reporting higher-than-expected first-quarter profit, while HCLTech lost over 1% after posting weaker-than-expected earnings.Wipro which reports later in the day was up 0.22%, helping lift the IT stocks up over 1%, which gained in part due to the brighter U.S. outlook.Besides Wipro, Federal Bank, Tata Metaliks and Angel One are among the companies reporting their results on Thursday."June quarter earnings would be crucial to determine the future course of markets," said Sandeep Bagla, CEO of Trust Mutual Funds, a financial services provider."Investors will monitor volume growth as well as margin expansion for cues on the pricing power of companies."Among individual stocks, SpiceJet jumped over 5% after top shareholder, Ajay Singh, said he would infuse 5 billion rupees into the airline.Patanjali Foods lost 5% after its largest shareholder said it would sell up to 9% of its stake in the edible oil maker to meet rules on minimum public shareholding.
Sensex Today: Indian shares rose on Wednesday, led by heavyweight Reliance Industries, ahead of domestic and U.S. inflation data for June and the quarterly results season.Ten of the 13 major sectoral indexes logged gains, with fast moving consumer goods rising 0.4% and oil and gas gaining nearly 1%.The information technology (IT) index fell 0.5% ahead of quarterly earnings from Tata Consultancy Services and HCLTech, due after market hours on Wednesday."The upside in markets is limited from here on because of the continous rally," said Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors. "It will be good if the market consolidates for some time, especially on concerns that inflation may rise again due to uneven monsoon and rise in food prices."Investors await India's inflation print, due later in the day. Retail inflation likely snapped a four-month decline in June due to rising food prices, a Reuters poll of economists showed.Among individual stocks, online gaming stocks Delta Corp, Nazara Technologies, and Onmobile Global tumbled between 4% and 10% after the government imposed a 28% tax on the turnover of online gaming companies.India's top firm by market capitalisation Reliance Industries gained over 1% and led the index gains after brokerage Morgan Stanley reiterated "overweight" on the stock, citing visibility of multiple catalysts for growth.Just Dial jumped over 7% after UBS reiterated "buy" and raised earnings estimates on likely margin expansion.Asian markets rose over 0.5%, mirroring gains in Wall Street, ahead of the U.S. inflation data.The U.S. consumer price index is expected to have risen by 3.1% in June, likely to be the lowest since March 2021, easing rate concerns.
All sectors opened in red, as Nifty Metal jumped 0.76 per cent, Nifty Realty gained 0.65 per cent, the media index climbed 0.57 per cent, and the IT index rose 0.52 per cent.
Sensex opened Friday at 61,163.10, climbed up to a high of 61,585 and fell down to a low of 61,002.17 during the day's trade; meanwhile, Nifty opened today at 18,117.30, touched a high of 18,216.95 and a low of 18,055.45. -- aaa