tiptrot.com June 22, 2018

Sensex ends higher; Reliance Industries leads after Jio Phone launch

22 July 2017, 12:34 | Gerardo Harmon

Sensex ends higher; Reliance Industries leads after Jio Phone launch

Sensex ends higher; Reliance Industries leads after Jio Phone launch

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.

Other News


Trending Now

Carolina Panthers release offensive tackle Michael Oher
The Panthers appeared set to move on with Daryl Williams and rookie Taylor Moton at right tackle after a June minicamp. It's the first personnel move under Panthers new interim general manager Marty Hurney , who was hired on Wednesday.

Mayawati quits Rajya Sabha, says she was muzzled
By resigning now, she can tell them that by doing so she upheld their pride and Parliament was not a fit place for her. BSP chief Mayawati on Tuesday walked out of the Rajya Sabha saying she would resign if she was not allowed to speak.

Parliament assembles for monsoon session; adjourned after obituary reference
The Rajya Sabha was adjourned for the day after obituary references soon after the monsoon session of Parliament began on Monday. The Vice-President also condemns the killing of Amarnath pilgrims in a terrorist attack.

Latest on police shooting of Australian woman in southwest Minneapolis
According to her website, she is a "qualified yoga instructor , a personal health and life coach and meditation teacher". She said the department has requested an expedited external, independent investigation to ensure transparency.

CBO says Trump budget would reduce deficit but not balance budget
But the CBO estimates the budget would not balance, refuting the White House's claim that it would. The White House didn't want you to see it.

President Rouhani Expresses Sorrow over Demise of Iranian Mathematician
Mirzakhani fought breast cancer for the last four years of her life, which eventually spread to her bone marrow . Iranian President Hassan Rouhani saluted Mirzakhani in a message in Farsi, posted to Twitter.

House panel approves budget with hopes for tax reform
The proposed defense spending exceeds caps on allowable spending, so they'd need Democrats' support to lift those caps. But for that budget to go into effect, it would have to pass the House and be reconciled with a Senate budget bill.

After Exxon Fine for Sanctions Violations, Calls for Rex Tillerson to Resign
The State Department declined to comment on Tillerson's role, referring all questions to Exxon. It leveled the statutory maximum civil penal of $2 million for the breaches.

Los Angeles Lakers acquire Kentavious Caldwell-Pope
Other teams in talks with Caldwell-Pope that have some cap space have been looking to create more, sources said. This year should be much different for Pope by joining a Lakers squad that now has plenty of new young talent.

Trump urges officials to allow Afghan girls into USA for robot contest
Non-profit First Global created the contest as a way to spark interest in science and tech for high schoolers across the globe. Around 160 countries are participating in the competition, with the team from Iran the first to arrive, organizers said.