Sensex climbs 168 points on RIL earnings; positive global cues

Mumbai: The benchmark BSE Sensex climbed almost 168 points in early session on Monday as sentiments rose with Reliance Industries’ better-than-expected fourth quarter earnings numbers which were announced yesterday.

This apart, a firming trend in other Asian markets, taking strong cues from the US and European markets following Emmanuel Macron’s first round presidential election win in France, boosted trading sentiments here.

The 30-share index, which had rallied 290.54 points in yesterday’s session, soared 167.59 points, or 0.57 percent, at 29,823.43, with all the sectoral indices led by realty, oil k &gas, healthare and metal supporting the upside.

Similarly, the NSE Nifty spurted 44.60 points, or 0.48 percent, to 9,262.55.

Brokers said that continued buying by domestic institutional investors and retailers following RIL’s healthy numbers announced post trading hours yesterday, mainly lent momentum to trading activity.

RIL shares climbed 2.18 percent, to Rs 1,447.30, in early trade after the company reported a 12.3 percent jump in its January-March quarter net profit at Rs 8,046 crore on the back of higher refining and petrochemical margins.

Other gainers included M&M, Wipro, HDFC Ltd, L&T, ICICI Bank, Power Grid, Lupin and Dr Reddy’s.

Globally, Japan’s Nikkei was up 0.84 percent while Hong Kong’s Hang rose 0.98 percent in early trade today. The Shanghai Composite Index gained 0.31 percent.

The US Dow Jones Industrial Average had ended 1.05 percent higher in yesterday’s trade.

Kindly send reply or comments on this topic to [email protected]
Source:Zee news

sensex