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Sensex trades over 300 points higher, Nifty above 10,850; RIL, Infosys gain

Sensex trades over 300 points higher, Nifty above 10,850; RIL, Infosys gain

Sensex trades over 300 points higher, Nifty above 10,850; RIL, Infosys gain
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By Ankit Gohel  Jul 13, 2020 10:00:44 AM IST (Updated)

The Indian equity benchmark indices opened higher led by gains across sectors amid positive momentum in the global markets. Rally in index heavyweights such as Reliance Industries, IndusInd Bank, Tata Steel, Bajaj Finance lifted Nifty above 10,850 levels.

The Indian equity benchmark indices opened higher led by gains across sectors amid positive momentum in the global markets. Rally in index heavyweights such as Reliance Industries, IndusInd Bank, Tata Steel, Bajaj Finance lifted Nifty above 10,850 levels.

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At 9:15 am, the Sensex opened 0.78 percent, or 286.33 points, higher at 36,880.66, while the Nifty50 index opened at 10,851.85, up 83.80 points, or 0.78 percent. At 9:47 am, the Sensex was trading 324.75 points higher at 36,919.08 and the Nifty was trading at 10,863, up 95 points.
Reliance Industries' fully paid shares traded at a record high with a market cap of above Rs 12 lakh crore, becoming the first Indian company to hit the mark.
Broader markets supported the rally with Nifty Smallcap100 and Nifty Midcap100 indices up 0.53 percent and 0.64 percent, respectively.
All the Nifty sectoral indices were trading in the green with Nifty Private Bank, Nifty Metal, Nifty IT and Nifty Auto leading the gains.
Hindalco Industries, JSW Steel, Tata Motors, Infosys and Reliance Industries led the gains among Nifty50 constituents while Bharti Airtel, Baja Auto, BPCL and Grasim Industries were the top index losers.
Avenue Supermarts plunged over 5 percent after the company's consolidated net profit in Q1FY21 fell 87.59 percent to Rs 40.08 crore from Rs 323.06 crore while revenue declined 33.21 percent to Rs 3,883.18 crore as against Rs 5,814.56 crore, YoY.
 
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