Sensex Today: Indian shares were little moved on Monday as the market awaited fresh triggers, while Shree Cement plunged after a report said an income tax probe found tax evasion of 230 billion rupees ($2.81 billion). The S&P BSE Sensex touched a high of 63,136 (up 157 points) in early deals, but thereafter erased gains and slipped into red to a low of 62,854 – down 282 points on the day’s high, largely dragged by Reliance, TCS and HDFC twins. The Sensex eventually ended on a flat note at 62,970 – down nine points.
The NSE Nifty 50 gyrated in a narrow 75-point range – the index hit a high of 18,722, and a low of 18,647 – before settling 26 points higher at 18,691.
The broader indices once again outperformed the benchmarks. The BSE MidCap index soared a per cent, while the SmallCap index added 0.7 per cent.
ICICI Bank to consider delisting of ICICI Securities on Thursday
The board of directors of India’s second largest private lender ICICI Bank will meet on June 29, Thursday, to consider a proposal for delisting of its institutional and retail broking arm ICICI Securities. In its filing to the exchanges on Monday ahead of market opening hours, the lender said that the proposal to delist ICICI Securities will be in accordance with Sebi (Delisting) regulations.
Global Cues
Asian stocks slipped slightly and oil rose in early trade on Monday as investors figured an abortive weekend mutiny by Russian mercenaries raised questions about stability and crude supply.
US stocks closed lower on Friday, capping a week dominated by Federal Reserve Chairman Jerome Powell’s testimony in which he signaled more interest rate hikes ahead but vowed the central bank would proceed with caution.
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