Sensex gets a buying lift, up 123 points; RIL at new high
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The benchmark Sensex climbed over 123 points to 35,670.39 in opening tradeled by gains in index heavyweight Reliance Industries, amid continued buying by domestic institutional investors.
The 30-share index was quoting higher by 123.06 points, or 0.35 %, at 35,670.39. It had gained 260.59 points in the previous session.
All the sectoral indices were trading higher, led by capital goods, consumer durables, infrastructure, banking, realty and oil and gas.
Similarly, the broader 50-share NSE Nifty edged up 37.55 points, or 0.34 %, to 10,809.60.
Stocks of Reliance Industries continued its upward trajectory, scaling a new peak of 1,031 by surging 1.08 %.
Other gainers included Adani Ports, ICICI Bank, Tata Motors, Axis Bank IndusInd Bank, Asian Paints, Hero MotoCorp, L&T, TCS, Tata Steel and Bharti Airtel, rising by up to 2.05 %.
Sentiment was largely buoyed by continued pumping of funds into markets by domestic institutional investors (DIIs) amid a mixed trend at other Asian markets.
Japan’s Nikkei was up 0.52 %, while Hong Kong’s Hang Seng declined 0.84 % in early trade today. Shanghai Composite too was marginally down.
The US Dow Jones Industrial Average ended 0.17 % lower on Wednesday.
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Five of the top-10 most valued firms together added Rs 85,582.21 crore in market valuation last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer, in-line with positive trend in equities.
Last week, BSE benchmark Sensex climbed 299.41 points or 0.39 per cent. The 30-share barometer hit its all-time high of 77,145.46 on June 13.
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In a significant step towards enhancing green energy generation in the state, Assam Chief Minister Himanta Biswa Sarma laid the foundation stone for a 25-MW solar power generation project at the premises of the Namrup Thermal Power Station in Dibrugarh district on Friday.
A joint venture between the Assam Power Generation Corporation and Oil India Limited, the project will span 108 acres and is expected to cost Rs. 115 crore.
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South Korean automotive giant Hyundai Motor Co's Indian subsidiary, Hyundai Motor India Limited, has filed draft papers to the Securities and Exchange Board of India (Sebi) to raise around $3 billion through an initial public offering (IPO), aiming for a valuation between $18 billion to $20 billion, according to a report in Moneycontrol.
If the listing proceeds as planned, this transaction, which is a pure Offer For Sale (OFS) by the promoter.
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