Informist, Thursday, Jun 2, 2022

By Abhishek Saini

MUMBAI – Benchmark indices snapped a two-session losing streak and ended higher today, but their movement was restricted within a range as markets await directional cues on policy tightening from central banks in the upcoming weeks. 

Investors await the outcome of the Reserve Bank of India's Monetary Policy Committee meeting next week, and the US Federal Reserve's Federal Open Market Committee's meeting on Jun 14 and 15. 

With global inflation touching record highs, a fall in crude oil prices came as a respite for investors and is likely to have aided sentiments. 

Prices of Brent crude plunged as markets expect the Organization of the Petroleum Exporting Countries to announce an increase in output at their meeting later today. 

Domestic indices recovered from early losses and traded in the green today. But investors remained cautious and avoided aggressive bets as concerns around aggressive policy tightening persist, especially after Wednesday's economic data in the US.

The Nifty 50 opened lower and fell to an intraday low of 16443.05 points. The index rose around 200 points till 16646.40 points and ended 0.8% higher at 16628.00 points. 

Meanwhile, the 30-stock Sensex also dropped to 55135.11 points during early trade. Once it recovered, it touched an intraday high of 55891.92 points. It ended 0.8% higher at 55818.11 points. 

Today's support to the headline indices came from the information technology pack. Macquarie Capital Securities (India) said risk-reward was attractive for frontline names in the sector, which prompted buying in the sector. 

The Nifty IT index remained in the green throughout the session and ended 1.8% higher. 

Shares of index-heavyweight RIL were also in the limelight and gained 3% today. They topped the gainers' list on the Nifty 50 on news that arm Reliance Brands to buy a stake in Plastic Legno SPA.

Among other major sectors, losses in banks and automobile weighed on the headline indices. The Nifty Bank index which has outperformed headline indices over the past few sessions ended flat today. Meanwhile, the Nifty Auto index fell 0.6%, dented by mixed sales data for May, reported on Wednesday. 

The broader market moved right alongside frontline indices, with mid-cap and small-cap indices on the National Stock Exchange rising 0.4-0.6% today. 

Among stocks, shares of Religare Enterprises surged 12% today on getting lenders' approval for arm Religare Finvest's one-time settlement plan with the Securities and Exchange Board of India. Among laggards, shares of Apollo Hospitals Enterprises slipped 5% today and were the worst hit on the Nifty 50. 

* Among Nifty 50 stocks, 28 rose and 22 fell 

* Among Sensex stocks, 20 rose and 10 fell

* On the NSE, 1,315 stocks rose, 757 fell and 70 were unchanged

* On the BSE, 1,970 stocks rose, 1,339 fell and 135 were unchanged

* Nifty Metal: Up 1.14%; Nifty IT: Up 1.82%; Nifty Auto: Down 0.62%

BSE                                                National Stock Exchange
Sensex: 55818.11 points, up 436.94 pts (0.8%)    Nifty 50: 16628.00 points, up 105.25 pts (0.6%)

S&P BSE Sensitive Index                            Nifty 50
Lifetime High: 62245.43 (Oct 19)                 : Lifetime High: 18604.45 (Oct 19)
Record Close High: 61765.59 (Oct 18)             : Record Close High: 18477.05 (Oct 18)

2022 1st day close: 59183.22 (Jan 3)             : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 61308.91 (Jan 17)             : 2022 Closing High: 18308.10 (Jan 17) 
2022 Closing Low: 52792.23 (May 19)              : 2022 Closing Low: 15782.15 (May 13)
2022 High (intraday): 61385.48 (Jan 17)          : 2022 High (intraday): 18321.55 (Jan 17)

2022 Low (intraday): 52260.82 (Mar 8)            : 2022 Low (intraday): 15671.45 (Mar 8)
2021 Closing High: 61305.95 (Oct 14)             : 2021 Closing High: 18338.55 (Oct 14) 
2021 Closing Low: 46285.77 (Jan 29)              : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14)          : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29)           : 2021 Low (intraday): 13596.75 (Jan 29)

2020 Closing High: 47751.33 (Dec 31)             : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23)              : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31)          : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24)           : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20)          : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19)           : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28))          : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23)            : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26)          : 2017 High(intraday): 10515.10 (Dec 26)

End

Edited by Vidhi Verma

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