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F&O expiry: IT, banks lift Sensex 393 pts up; RIL slips 2.4% post 44th AGM

The Nifty sectoral indices were mixed, with the Nifty IT index, up 2.79 per cent, leading the gainers, while the Nifty PSU Bank index, down 1.4 per cent, bled the most

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SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

F&O expiry: IT, banks lift Sensex 393 pts up; RIL slips 2.4% post 44th AGM
The Indian benchmark indices ended the final session of the June series of futures & options (F&O) over half a per cent higher, with major contribution from information technology (IT) stocks. Heavyweight Reliance Industries, meanwhile, was the top Sensex laggard, falling 2.35 per cent even though the company's chairman Mukesh Ambani made a slew of announcements at the firm's 44th annual general meeting (AGM).

In some major announcements, Ambani said that Yasir Al-Rumayyan, Chairman of Saudi Aramco and Governor of PIF, will join the Board of Reliance Industries as Independent Director. Besides, he said that Reliance Industries will invest Rs 75,000 crore in new energy business over the next three years.

Among the headline indices, the S&P BSE Sensex rose 393 points, or 0.75 per cent, to close at 52,699, while the broader Nifty50 index ended the session at 15,790, up 103 points, or 0.66 per cent. Infosys, TCS, and Tech Mahindra were the top Sensex gainer, while apart from RIL, Bharti Airtel and PowerGrid were the top laggards.

The Nifty sectoral indices were mixed, with the Nifty IT index, up 2.79 per cent, leading the gainers, while the Nifty PSU Bank index, down 1.4 per cent, bled the most.

The broader markets, meanwhile, underperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices ending 0.51 and 0.22 per cent lower, respectively.

Among other individual stocks, Shyam Metalics and Energy (SMEL) made a strong debut on the bourses, with the stock listing at Rs 380, a 24 per cent premium over its issue price, on the National Stock Exchange (NSE). The stock ended the session at Rs 375.50.

Meanwhile, Sona BLW Precision Forgings (Sona Comstar) made a quiet debut on the bourses, with the stock getting listed at Rs 302.40 -- a 4 per cent premium over its issue price of Rs 291 per share on the BSE. The stock, however, extended gains in intra-day deals to end the session at Rs 362.85 apiece.

Global markets

European shares rose on Thursday as investors focused on a steady economic rebound against the backdrop of fears of a tapering in global monetary stimulus, while technology stocks jumped following an overnight rally in their U.S. peers.

The pan-European STOXX 600 was up 0.6 per cent by 0803 GMT, with financial services, retail and bank stocks among the biggest gainers. German shares gained 0.5 per cent as data showed the business climate index rose again in June after hitting a two-year high last month, while nervousness over a Bank of England policy meeting on Thursday weighed on the FTSE 100 .

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