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Stocks attempted to test higher levels a day ahead of the RBI’s monetary policy and strength across Asian markets, taking the benchmark Nifty 50 index above 24,700, supported by Reliance Industries and private banking shares on June 5.
At close, the Sensex was up 443.79 points or 0.55 percent at 81,442.04, and the Nifty was up 130.70 points or 0.53 percent at 24,750.90. The BSE Midcap index rose 0.4 percent while the Smallcap index added 0.65 percent.
Buying across the sectors – barring PSU Banks – helped indices extend gains for a second day ahead of the Reserve Bank of India (RBI) MPC decision tomorrow.
Stock in News
Bharat Electronics (BEL):
Hit a 52-week high of ₹394.70 after declaring new orders of ₹2,323 crore from Mazagon Dock Shipbuilders and GRSE for missile system spares employed in Indian warships.
Hindustan Zinc:
Rallied close to 6% to ₹496 on a sharp rally in silver prices. Being India‘s largest producer of silver, the company is likely to benefit from increasing demand for bullion.
Reliance Infrastructure:
The stock saw selling pressure after issuing news about its next-generation 155mm artillery shell project. Some profit booking was also seen following recent appreciation.
Angel One:
Stock advanced after its May business update, reporting a 23.83% YoY growth in customer base, now standing at 31.95 million, demonstrating high retail participation.
Source – Moneycontrol, Mint