Indian shares ease off record highs but set for best month in 2024
28/06/2024 09:30
** India's benchmarks NSE Nifty 50 .NSEI and S&P BSE
Sensex .BSESN up about 0.1% each, trimming gains after rising
about 0.5% each to hit record highs
** Nifty up 6.8% in June, set to log best month in 2024,
helped by policy continuity, macroeconomic stability and return
of foreign inflows
** Financials .NIFTYFIN , private banks .NIFPVTBNK up
about 8% each in June
** On the day, financials .NIFYFIN , private banks
.NIFPVTBNK , down 0.6% and 1%, on profit booking
** Bouts of profit booking at record highs, as we are seeing
in intraday today, will become more frequent since the market is
in overbought zone, according to three analysts
** Return of foreign inflows in June to boost large-caps
further, keeping benchmarks buoyant ahead of earnings season,
says Raghvendra Nath, managing director of Ladderup Wealth
Management
** Reliance Industries RELI.NS jumps 2.3%, hitting record
highs, after its telecom unit hikes prices for 19 plans
** GMR Airports Infrastructure GMRI.NS drops 2% after a
roof collapsed under heavy rainfall at the main airport in New
Delhi, killing one person and causing cancellation of flights
from one terminal
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))