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Sensex, Nifty End Higher As Reliance Gains; Inflation Data In Focus

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Sensex, Nifty End Higher As Reliance Gains; Inflation Data In Focus

Sensex and Nifty closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day.

The blue-chip NSE Nifty 50 index ended 0.08 per cent higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15 per cent to 52,551.53 at close.

On traders’ radar is consumer price inflation (CPI) data after market close on Monday, with a Reuters poll showing India’s retail inflation likely rose last month after a three-month low in April on higher food and energy prices.

In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4 per cent and 0.9 per cent, respectively. Reliance shares have gained in five of the last eight sessions. The Nifty IT index, which rose 4.52 per cent last week, added 0.34 per cent.

Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5 per cent. The National Securities Depository Ltd has frozen the accounts of three foreign funds that have invested Rs 43,500 crore ($5.94 billion) in Adani group companies, the Economic Times reported.

Adani Enterprises, the conglomerate’s flagship company, ended 6.3 per cent lower. The companies had earlier reduced some losses after they said the report was “erroneous”.

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