Stocks

Sensex surges 646 points led by energy stocks; RIL stock shines

| Updated on September 10, 2020

Domestic equity benchmark indices Sensex and the Nifty jumped over 1.75 per cent on Thursday led by gains in Oil&Gas, Energy, Banking, Financials and Capital Goods sector stocks.

The S&P BSE Energy surged 393.34 points or 6.26 per cent, to 6,673.98 mainly led by gains its key stocks such as Reliance Ind, which rose 7.30%, followed by Hindustan Oil Exploration, up by 7.30%, BPCL, up by 6%, Goa Carbon rose 4.5%, Adani Gas, up by 4.85% and HPCL UP BY 3.80%.

The 30-share BSE index climbed 646.40 points or 1.70 per cent higher at settle at 38,840.32.

On the NSE, the Nifty 50 rose 171.25 points or 1.52 per cent to 11,449.25.

Reliance was the top gainer in the Sensex pack, surging over 7 per cent, followed by Asian Paint, Axis Bank, UltraCemco, IndusInd Bank, SBI, Bajaj Finance and Infosys.

Reliance moved up on the bourses after a report that Reliance Industries Ltd is offering to sell a roughly $20-billion stake in its retail business to Amazon.com Inc.

According to a report Mumbai-based Reliance Industries is willing to sell as much as a 40 per cent stake in the subsidiary to Amazon.

However, Tata Steel, Bharti Airtel, Kotak Bank, HDFC Bank, Titan and Sun Pharma were among the laggards.

Earlier, domestic equities opened on a positive note tracking strong gains in global markets.

Stock exchanges on Wall Street rebounded and ended over 2 per cent higher in overnight trade.

Exchange data showed that foreign institutional investors sold equities worth Rs 959.09 crore on a net basis on Wednesday.

However, while bourses in Shanghai and Hong Kong declined up to 0.65%, Nikkei and Taiwan have garnered gains up to 0.85% today.

Published on September 10, 2020

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