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Sensex ends 99 pts up on buying in RIL, IT stks; Nifty closes above 10,800

All that happened in the markets today

Markets | Coronavirus | Reliance Industries Ltd

SI Reporter  | New Delhi 


The Indian on Monday climbed off the day's high but still ended in the positive territory, thanks to buying in Reliance Industries (RIL), IT and metal stocks.

The S&P BSE Sensex ended at 36,694, up 99 points, or 0.27 per cent having reclaimed the 37,000 levels earlier in the session. The broader Nifty50 index, meanwhile, ended above the crucial 10,800 mark at 10,815, up 47 points or 0.44 per cent. RIL rose over 3 per cent during the day and hit a lifetime high of Rs 1,947 on the BSE after it announced the sale of 0.15 per cent stake in Jio Platforms to Qualcomm Ventures for Rs 730 crore. The stock ended at Rs 1,934, up 3 per cent. READ MORE
Besides, IT stocks such as Tech Mahindra, HCL Tech, and were among the top gainers on the BSE. On the other hand, financial counters such as Bajaj Finance, HDFC Bank, and HDFC ended as the biggest losers.

In the broader market, the S&P BSE MidCap index ended flat at 13,403.74, up 0.05 per cent while the S&P BSE SmallCap index closed the day at 12,784, down 0.15 per cent. 

Buzzing stocks

Shares of Hindustan Unilever (HUL) hit an over 10-week high of Rs 2,274 on the BSE during the day after the company announced that its board will meet on July 21 to consider special interim dividend. The stock ended at Rs 2,264.70, up 1.84 per cent. READ MORE

Shares of HDFC Bank ended over 2 per cent lower at Rs 1,080 on the BSE after a Bloomberg report alleged that the bank was probing allegations of improper lending practices and conflicts of interests in its vehicle-financing operation.

Avenue Supermarts tumbled up to 6 per cent to Rs 2,182 on the BSE after the firm's consolidated net profit for the June quarter declined 87.61 per cent to Rs 40 crore compared to a profit of Rs 323 crore in the same quarter last year. The stock ended at Rs 2,232, down over 3.8 per cent. READ MORE
Global markets

World shares were approaching a five-month peak and the dollar slipped on Monday as investors wagered the earnings season would see most companies beat forecasts given expectations had been lowered by lockdowns. 

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.8 per cent as Chinese stocks jumped 2.1% on Monday. Japan’s Nikkei gained 2.2 per cent and South Korea 1.7 per cent.

The optimism carried over to Europe, where stocks rose 1 per cent, even as the US on Friday slapped additional duties of 25 per cent on French luxury goods valued at $1.3 billion, in a tit-for-tat response to France’s digital services tax.

In commodities, oil prices dropped on big spikes in Covid-19 infections over the weekend in the United States and elsewhere while traders await an OPEC technical meeting expected to recommend an easing of supply cuts.

(With inputs from Reuters)


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