Global News

Nifty ends above 9900, Reliance Industries leads

Nifty ends above 9900, Reliance Industries leads

The NSE Nifty gained 26.65 points, or 0.26 per cent, to 9,899.95.

Positive global cues and healthy quarterly results from index heavyweights such as Reliance Industries (RIL) and Wipro buoyed the Indian equity markets on Friday.

The gauge had lost 50.95 points yesterday.

Other stocks such as Reliance Industries (0.25 crore), Idea Cellular (0.12 crore), ITC (0.11 crore), Ashok Leyland (0.10 crore), PFC (0.09 crore), Vedanta (0.09 crore) and Hindalco (0.08 crore) were also among most the traded stocks.

This led the wider Nifty of the National Stock Exchange (NSE) to rise by 41.95 points, or 0.42 per cent, to close at 9,915.25 points. 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.

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Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 1,956.51 crore during the week, as per Sebi's record including the provisional figure of July 21.

Shares of RIL jumped over 2% to touch Rs 1,564 per share while Wipro was trading higher by 6.7%, at Rs 287.05 per share.

At 9.30 a.m., the company stock was trading up by 7.94 per cent at Rs 290.35 on the BSE. Coal India (up 2.66 per cent), Kotak Bank (1.90 per cent), TCS (1.87 per cent) and Infosys (1.11 per cent) had a field day.

The highlight of the week was Reliance Industries' 40th AGM, where the Company made announcements about Reliance JioPhone, its much-touted affordable 4G phone. "However, gains in index pivotals RIL and IT major Wipro supported the bourses at lower levels". Asian shares ended lower after the European Central Bank announced no changes to its stimulus policies, but European shares traded higher.


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