RIL, HDFC twins lift Sensex 400 pts higher, Airtel hits 52-week high; check what’s keeping markets up

Sensex, Nifty

Extending the gains from the last two sessions, headline indices BSE Sensex and Nifty 50 advanced nearly one per cent on Wednesday. Sensex jumped to hit day’s high of 30,596.17, while the broader Nifty 50 index was approaching the 9,000-mark and was trading at 8,982. Reliance Industries (RIL), ITC, Hindustan Unilever (HUL) and HDFC twins were among the top index contributors. ITC and LT shares were leading the gains on the S&P BSE Sensex in the mid-session trade, with a growth of nearly 3 per cent each. IndusInd Bank shares were top Sensex laggard with a decline of over 4 per cent, followed by Hero MotoCorp, Infosys, Axis Bank and Bharti Airtel.

RIL top index contributor: Reliance Industries’ Rs 53,124 crore rights issue opened today. The company has returned to the public for raising funds after a gap of three decades. The rights issue will remain open for eligible investors for 14 days. RIL was the top index contributor in today’s session and the stock price gained 2 per cent in the trade.

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Mixed sectoral indices: Most of the sectoral indices were trading in green with Nifty FMCG as top sectoral gainer, up 1.69 per cent or 453 points led by ITC, Colgate-Palmolive and Nestle India. On the flip side, Nifty IT index was trading down dragged by MindTree, Hexaware, Infosys and Wipro.

Bharti Airtel hit 52-week high: As many as eight stocks on the NSE traded at their 52-week high values as the equity markets gained. Bharti Airtel traded at Rs 612 per share a fresh high for the stock. Among other names that traded at 52-week highs were, Alchemist, Astec LifeSciences, Reliance Industries Limited-Rights Entitlement and Ruchi Infrastructure.

FII and DII data: Foreign institutional investors (FIIs) sold shares worth Rs 1,328.31 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,659.74 crore on net basis on Tuesday in the Indian equity market, according to the provisional data available on the NSE.

Coronavirus cases in India surpass 1-lakh mark: The total coronavirus cases in India have surpassed the 1.06 lakh-mark while the death toll was over 3300-mark. The cases continued to spike, as the fourth phase of lockdown has come into effect with relaxed restrictions.