Sensex up 150 pts, Nifty tops 18,350; Cipla, Adani Ent dip 3%

Equity benchmark indices had a better-than-expected opening on Monday following a respite in the CPI inflation, which dipped to an 18-month low of 4.7 per cent in April. The BSE Sensex gained 160 points to 62,200, and the NSE Nifty50 edged 45 points up to 18,360.

Tata Motors, Power Grid, Nestle, M&M, Ultratech Cement and Infosys led gains on the Sensex, while Bajaj Auto, Eicher Motors and Nestle were the top Nifty winners.

On the flip side, IndusInd Bank, Tata Steel, Sun Pharma, Cipla, Adani Enterprises were among the top frontline losers.

The broader markets opened tepid. The BSE MidCap and SmallCap indices were nearly flat versus mild uptick in the BSE Sensex.

Tata Motors gained over 3.5 per cent on posting a net profit of Rs 5,408 crore in Q4FY23 as against a net loss of Rs 1,033 crore last year.

Adani Enterprises lost 3 per cent after the company said it plans to raise Rs 12,500 crore through the qualified institutional placement route.

Among sectors, Nifty Realty led gains, rising 1 per cent followed by the Auto and IT packs. On the flip side, Nifty Metals, PSBs and Pharma held losses.