Sensex gyrates 696 pts, ends 79 pts up; Adani Ent down 3.5%, RIL gains 1.5%

Stock market highlights: After starting on a negative note, benchmark indices staged a smart recovery in the second half of the session as investors bet on heavyweights like Infosys, Hindustan Unilever, Reliance Industries, ICICI Bank, and L&T. 

The S&P BSE Sensex oscillated 696 points during the day before closing at 65,402, up 79 points or 0.12 per cent. The Nifty50, too, rebounded from a low of 19,258 to settle at 19,435, up 6 points or 0.03 per cent.

In the broader markets, the BSE MidCap and SmallCap indices underperformed the benchmarks as they fell 0.5 per cent each.

Among individual stocks, shares of Adani group fell up to 5 per cent in the intra-day trade on Monday after the board of Adani Ports and Special Economic Zone (SEZ) accepted the resignation of Deloitte Haskins & Sells LLP as the company's auditor. That apart, Sebi has requested for more time to investigate the share manipulation accusations. READ MORE

On the other hand, shares of SpiceJet soared 13 per cent in the intra-day trade after the company registered net profit at Rs 205 crore in the June ended quarter (Q1FY24), as against net loss of Rs 789 crore, in the year-ago period. READ MORE

Among sectors, the Nifty Metal index fell 2 per cent amid real estate sector related concerns in China. On the upside, the Nifty Media, FMCG, and IT indices added up to 1 per cent. 

IPO Update :: TVS Supply Chain Solutions

The three day issue of the TVS group company sailed through on the final day. At 3:30 PM, the issue was subscribed 2.6 times with retail portion at 7.3 times, NII at 2.3 times, and QIB at 1.2 times.