Stocks

Sensex ends slighly higher; Nifty above 11,400

BL Internet Desk | Updated on August 19, 2020

Key domestic equity indices closed marginally higher on Wednesday on persistent foreign fund inflows amid mixed show in other Asian markets.

According to traders, domestic bourses followed positive cues from US equities which hit fresh records in overnight session

Asian markets finished mixed with the Nikkei 225 gaining 0.26%, while the Shanghai Composite led the Hang Seng lower. The Shanghai Composite fell 1.23%, the Hang Seng ended down by 0.74% today. European markets such as FTSE 100, CAC and DAX were trading higher today.

Earlier, equity benchmark Sensex jumped over 250 points continuing with yesterday's strong finish, and during the day the index moved in a narrow range before settling higher by 87 points.

The BSE Sensex ended 86.47 points or 0.22 per cent higher at 38,614.79, while NSE Nifty was up 23.05 points or 0.20 per cent at 11,408.40.

Tech Mahindra was the top gainer in the Sensex pack, rising around 2 per cent, followed by Bharti Airtel, Maruti, ICICI Bank, SBI, HDFC Bank, Reliance, Asian Paint and UltraCemco.

Major losers were Bajaj Auto, ONGC, Nestle, Hindustan Lever, HCL Tech, Nestle India, Tata Steel, Kotak Bank and Infosys shedding up to 1.50 per cent.

Exchange data showed that foreign institutional investors bought equities worth Rs 1,134.57 crore on a net basis on Tuesday.

 

RIL rallies on stake buy in Netmeds

 

Reliance Industries (RIL) share price rose on Wednesday after the company's retail arm acquired majority stake in an online pharmacy platform, Netmeds.

The company announced that its subsidiary Reliance Retail Ventures (RRVL) has acquired a majority equity stake in Vitalic Health (Vitalic) and its subsidiaries for a cash consideration of approximately Rs 620 crore, as per the release.

On the BSE, the stock rose to an intraday high of Rs 2,154, before settling at Rs 2,133.20, up by 0.70 per cent over yesterday's closing price.

 

CG Power shares hit 5 per cent upper circuit

CG Power and Industrial Solutions stock has hit 5 per cent upper circuit on Wednesday after Yes Bank offloaded its stake in the company.

Yes Bank offloaded 8.27 percent equity stake in CG Power, via open market transactions yesterday, August 18.

Yes Bank sold 2.8 crore equity shares in the company at Rs 14.6 per share on the National Stock Exchange (NSE), and 2.4 crore shares at Rs 14.66 per share on the BSE, the bulk deals data showed.

Published on August 19, 2020

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