Equity indices up 1.5 pc led by gains in Reliance, Bajaj twins
Jun 19, 2020
Mumbai (Maharashtra) [India], June 19 : Equity benchmark indices advanced by 1.5 per cent on Friday led by gains in Reliance Industries which become net debt-free ahead of its March 2021 target.
The BSE S&P Sensex was up by 524 points or 1.53 per cent at 34,732 while the Nifty 50 edged higher by 153 points or 1.51 per cent at 10,224.
Except for Nifty IT and metal, all sectoral indices at the National Stock Exchange were in the green with Nifty realty up by 6.4 per cent, PSU bank by 2.2 per cent, financial service by 1.5 per cent and auto by 1.4 per cent.
Among stocks, Reliance Industries rose by 6.48 per cent to touch Rs 1,763.20 per share as it became net debt-free after a record Rs 1.69 lakh crore fundraising in less than two months through stake sales in the digital arm and a rights issue.
Reports said India's largest private sector company crossed the Rs 11 lakh crore of market capitalisation in today's session.
Bajaj Finserv edged higher by 9.1 per cent to Rs 5,925 per share while Bajaj Finance moved up by 6.5 per cent to Rs 2,691.35 per unit. Tata Motors accelerated by 5.7 per cent despite a rating downgrade by Moody's and Maruti Suzuki rose by 3.1 per cent.
The other prominent gainers were ICICI Bank, Axis Bank, Bharat Petroleum Corporation, Power Grid Corporation and Bharti Infratel. However, those which lost were IndusInd Bank, Mahindra & Mahindra, Vedanta, HCL Technologies, Infosys and ITC.
Meanwhile, Asian shares wobbled in choppy trade as lingering concerns about a fresh spike in coronavirus cases offset growing hopes for a quick economic recovery.
Japan's Nikkei gained by 0.55 per cent and South Korean stocks rose by 0.37 per cent amid concern about diplomatic tension with North Korea. Shares in China rose by 0.96 per cent led by gains in financials and healthcare sector while Hong Kong's Hang Seng edged up by 0.73 per cent.
