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Friday, July 3, 2020

Sensex Surges Over 400 Points in Early Trade; RIL Hits Fresh Peak

After touching a high of 35,170.08 in early trade, the 30-share index was trading 421.66 points, or 1.21 per cent, higher at 35,153.39.
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Equity benchmark Sensex jumped over 400 points in early trade on Monday led by gains in index-heavyweights Reliance Industries, ICICI Bank and HDFC, amid positive global cues and foreign fund inflow.

After touching a high of 35,170.08 in early trade, the 30-share index was trading 421.66 points, or 1.21 per cent, higher at 35,153.39.

Similarly, NSE Nifty surged 122.95 points, or 1.20 per cent, to 10,367.35. Bajaj Finserv was the top gainer in the pack, rising around 7 per cent, followed by Bajaj Finance, Bajaj Auto, IndusInd Bank and ICICI Bank.

Reliance Industries jumped over 2 per cent, trading at its record high of Rs 1,804.10. On the other hand, TCS, ONGC, M&M and Infosys were among the laggards.

In the previous session, the BSE barometer settled 523.68 points, or 1.53 per cent, higher at 34,731.73, and the broader Nifty surged 152.75 points, or 1.51 per cent, to 10,244.40.

On a net basis, foreign institutional investors bought equities worth Rs 1,237 crore in the capital market on Friday, provisional exchange data showed.

According to analysts, besides stock-specific action, fresh foreign fund inflows buoyed market sentiment here. On the global front, bourses in Shanghai, Seoul and Tokyo were trading with gains in early deals, while those in Hong Kong were in the red.

International oil benchmark Brent crude futures rose 0.02 per cent to USD 42.20 per barrel.

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