tiptrot.com
tiptrot.com October 22, 2017


Sensex ends higher; Reliance Industries leads after Jio Phone launch

22 July 2017, 12:34 | Gerardo Harmon

Sensex Gains 124 Points, Nifty Settles Near All-Time High; RIL Surges Over 3%

Selling pressure in metal, auto stocks pull equities lower

During the week, the Sensex registered a rise of 8.14 points, or 0.02 per cent, while the Nifty rose 28.90 points, or 0.29 per cent.

Globally, Japan's Nikkei was down 0.25 per cent while Hong Kong's Hang shed 0.24 per cent in early trade today.

Index heavyweight Reliance Industries rose almost 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.

Indian shares gained on Friday, led by blue-chip Reliance Industries after the oil and gas major reported a better-than- expected quarterly earnings.

NSE Nifty closed at 9,915 up 41 points, whereas BSE Sensex closed higher 124 points at 32,028 BSE Mid-cap index closed higher by 0.04% at 15,185. RIL shares rose by almost 4% after the company reported its highest quarterly consolidated net profit of Rs 9,108 crore 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.

The key index had slipped 26.30 points in the previous session. Losers included Pharma (0.87 per cent), Realty (0.76 per cent) and Infra (0.57 per cent).

Both Sensex and Nifty rallied late in Friday's trading as both the indices gained around 0.40 per cent during the day.

Shares in Reliance rose as much as 3.9 percent to Rs. 1,588, their highest since January 2008, but its telecom rivals slumped on worries about the intensifying competition in the sector, with Bharti Airtel Ltd and Idea Cellular Ltd down as much as 4.1 percent and 7.3 percent, respectively.

Total securities that hit their price bands were 108. The stock closed up 9.9% at Rs 10.30 per share on BSE.



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