Sensex & Nifty at 10-month high, Midcap up 1%; Maruti, TCS fall

Equity benchmarks hit fresh 2016 as well as 10-month high, tracking global rally. The broader markets outperformed benchmarks with the BSE Midcap index rising 1.3 percent.
Benchmarks continued upmove for the fifth straight day. The Sensex gained 199.75 points or 0.74 percent at 27199.47 and the Nifty was up 58.95 points or 0.71 percent at 8346.70.
The market breadth remained strong today as well. About two shares advanced for every share declining on the Bombay Stock Exchange.
ITC was the leading contributor to Sensex’s gains, up 3 percent as it goes ex-bonus today.
Maruti fell half a percent in an otherwise strong market after it reported a fall of 14 percent in June sales on account of big export weakness.
Mahanagar Gas has a blockbuster listing with gains of over 25 percent at Rs 527.50. The company is confident of maintaining growth of 7-8 percent.
Dr Reddy’s Labs gained nearly 3 percent as CNBC-TV18 learns from sources that the remediation of its 3 plants with warning letters is close to completion and will request for a meeting with the USFDA in July itself. Strides Shasun rose 5 percent as the USFDA inspected the company’s new oral dosage facility without any observations in Bangalore.


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