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  Business   Market  21 Jul 2017  Nifty ends above 9,900, Reliance Industries leads

Nifty ends above 9,900, Reliance Industries leads

PTI
Published : Jul 21, 2017, 7:40 pm IST
Updated : Jul 21, 2017, 7:40 pm IST

Nifty opened higher at 9,899.60 and hovered between 9,924.70 and 9,838.00 before closing at 9,915.25.

 The market capitalisation of listed firms on the NSE stood at Rs 1,29,97,646 crore.
  The market capitalisation of listed firms on the NSE stood at Rs 1,29,97,646 crore.

Mumbai: Benchmark Nifty rose 42 points today to end above the key 9,900-level on buying in IT, energy and banking counters.

Index heavyweight Reliance Industries rose nearly 4 per cent after the company reported its highest quarterly consolidated net profit of Rs 9,108 crore for the three months to June on the back of higher petrochemical margins.

 

Besides, RIL Chairman Mukesh Ambani today announced a 1:1 bonus issue at the company's 40th annual general meeting while unveiling Jio's 4G-enabled feature phone. IT major Wipro surged 6.28 per cent after the company announced a mega buyback offer of Rs 11,000 crore and posted a 1.2 per cent rise in consolidated net profit for the April- June quarter.

Most Asian markets declined, taking a breather from the recent upmove and after the European Central Bank (ECB) took a dovish stance on policy. European equity markets were trading higher in early afternoon trade.

The Nifty opened higher at 9,899.60 and hovered between 9,924.70 and 9,838.00 before closing at 9,915.25, a gain of 41.95 points, or 0.42 per cent. It saw an intra-day movement of about 86.70 points.

 

The key index had slipped 26.30 points in the previous session. Sector-wise, IT rose 2.10 per cent, followed by Energy (1.57 per cent), Media (1.06 per cent), Commodities (0.53 per cent), Private bank (0.35 per cent) and Metal (0.21 per cent). Losers included Pharma (0.87 per cent), Realty (0.76 per cent) and Infra (0.57 per cent).

The midcap index slipped 0.16 per cent, while smallcap gained 0.54 per cent. Major index gainers were Wipro (6.28 per cent), Reliance (3.67 per cent), Zee (3.17 per cent), Coal India (2.76 per cent) and HCL Tech (2.18 per cent).

Losers included Bharti Airtel (2.02 per cent), Lupin (1.99 per cent), Indiabulls Housing Finance (1.84 per cent), Power Grid (1.55 per cent) and Hero Motoco (1.28 per cent). A total of 750 scrips advanced, 920 declined, while 78 remained unchanged.

 

Total securities that hit their price bands were 108. Turnover in the cash segment jumped to Rs 29,346.72 crore from Rs 25,835.64 crore yesterday. A total of 18,352.73 lakh shares changed hands in 9,712,846 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,29,97,646 crore.  

Tags: nifty, sensex, nse, stock market
Location: India, Maharashtra, Mumbai (Bombay)