Sensex rose 250 points in early trade, Nifty near 21,700 level. india business news
Mumbai: equity benchmark index Opened on a positive note on Saturday, Sensex rose 250 points due to the rise. financial stocks, 30-share bse sensex It rose 250.08 points or 0.35 percent to 71,933.31 in early trade. Nifty rose 75.80 points or 0.35 percent to reach 21,698.20.
HUL shares and Reliance Industries Were under pressure after December quarter results.
Shares of Reliance Industries were trading 0.18 per cent lower at Rs 2,730 in morning deals after the third quarter earnings announcement on Friday.
The company reported a 9 per cent rise in its December quarter net profit as planned maintenance-induced weakness in oil business earnings was offset by stability in the retail and telecom sectors.
HUL shares were down 2.68 per cent at Rs 2,496 in early deals.
Hindustan Unilever Ltd on Friday reported 1.08 per cent rise in consolidated net profit at Rs 2,508 crore for the third quarter ended December 2023.
Among Sensex companies, HDFC Bank, PowerGrid, NTPC, Bajaj Finance, Sun Pharma and ICICI Bank, ITC, Bajaj Finserv were the major gainers.
HUL, Wipro, UltraTech, HCL Tech were among the losers.
Most of the financial stocks were trading in the green.
On Friday, the Dow and S&P 500 set new record closing levels, while the tech-heavy Nasdaq reached its best closing level in two years. Asian shares closed mixed.
According to analysts, domestic stock markets may see slow activity amid low participation from global and domestic investors.
“Since the market conditions are very strong, we expect the stock-specific bullish trend to continue. In the near term, Nifty may face resistance at 21,850, while support can be seen at 21,500, ” said Deepak Jasani, head of retail research at HDFC Securities.
Late on Friday night, NSE and BSE announced that there will be normal trading sessions on Saturday while the markets will remain closed on January 22.
On Friday, the 30-share BSE Sensex closed at 71,683.23, up 496.37 points or 0.70 per cent. Nifty closed at 21,622.40 points, up 160.15 points or 0.75 percent.
Global oil benchmark Brent crude fell 0.68 percent to $78.56 a barrel.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 3,689.68 crore on Friday.
HUL shares and Reliance Industries Were under pressure after December quarter results.
Shares of Reliance Industries were trading 0.18 per cent lower at Rs 2,730 in morning deals after the third quarter earnings announcement on Friday.
The company reported a 9 per cent rise in its December quarter net profit as planned maintenance-induced weakness in oil business earnings was offset by stability in the retail and telecom sectors.
HUL shares were down 2.68 per cent at Rs 2,496 in early deals.
Hindustan Unilever Ltd on Friday reported 1.08 per cent rise in consolidated net profit at Rs 2,508 crore for the third quarter ended December 2023.
Among Sensex companies, HDFC Bank, PowerGrid, NTPC, Bajaj Finance, Sun Pharma and ICICI Bank, ITC, Bajaj Finserv were the major gainers.
HUL, Wipro, UltraTech, HCL Tech were among the losers.
Most of the financial stocks were trading in the green.
On Friday, the Dow and S&P 500 set new record closing levels, while the tech-heavy Nasdaq reached its best closing level in two years. Asian shares closed mixed.
According to analysts, domestic stock markets may see slow activity amid low participation from global and domestic investors.
“Since the market conditions are very strong, we expect the stock-specific bullish trend to continue. In the near term, Nifty may face resistance at 21,850, while support can be seen at 21,500, ” said Deepak Jasani, head of retail research at HDFC Securities.
Late on Friday night, NSE and BSE announced that there will be normal trading sessions on Saturday while the markets will remain closed on January 22.
On Friday, the 30-share BSE Sensex closed at 71,683.23, up 496.37 points or 0.70 per cent. Nifty closed at 21,622.40 points, up 160.15 points or 0.75 percent.
Global oil benchmark Brent crude fell 0.68 percent to $78.56 a barrel.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 3,689.68 crore on Friday.
