Midcap outperforms Sensex, Nifty; Sun Pharma top gainer
Equity benchmarks opened flat but the broader markets outperformed on Monday, after industrial output and retail inflation data.
The 30-share BSE Sensex was down 4.79 points at 31,090.91 and the 50-share NSE Nifty rose 2.15 points to 9,618.55. About three shares advanced for every share falling on the NSE.
Sugar stocks were in action as Ugar Sugar, Rana Sugar, Shree Renuka Sugars, Bajaj Hindusthan and Balrampur Chini gained 4-8 percent.
Among other midcaps, Ashok Leyland, Delta Corp, PFC, OBC and Syndicate Bank were up 1-2 percent while Bharat Financial was down nearly 1 percent. Vascon Engineers fell 10 percent.
The Indian rupee opened flat at 64.43 per dollar versus previous close 64.44.
USD-INR rangebound. He expects a range of 64.35-64.55/dollar to play out for today.
India’s retail inflation rate fell to 2.18 percent in May, lowest since 2012, mainly due to a fall in food prices.
India’s factory output grew 3.1 percent in April from 2.7 percent in March, amid revival signs.
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