News Worms
News Worms


Sensex Climbs 124 Pts, Nifty Above 9900 As RIL Leads Rally

Sensex Climbs 124 Pts, Nifty Above 9900 As RIL Leads Rally

The wider Nifty of the National Stock Exchange (NSE) fell by 26.30 points, or 0.27 per cent to provisionally close at 9,873.30 points (at 3.30 p.m.).

There were 732 advances, 907 declines and 321 unchanged stocks on NSE, reflecting a negative undertone floating in the market.

Reliance Chairman Mukesh Ambani announced on Friday the launch of the device - aimed to draw tens of millions of low-income users to its telecoms venture Jio's service - a day after the oil-to-telecoms conglomerate posted "surprisingly robust" results, fuelled by improved refining margins.

The stock of Reliance Industries, a market heavyweight, logged a rise of 3.76 per cent.

The Nifty closed at 9,899.60 points, while the Sensex closed at 31,955.35 points - up 244.36 points, or 0.77 per cent.

Ind indices to trade in range with cues from global ones: Analysts suggest that the Indian indices would remain range bound in tracking global indices.

Wipro shares spiked today after the company announced a mega share buyback plan worth up to Rs 11,000 crore. The rally was spilled over to other technology stocks like TCS (up 1.9 percent), Infosys (1.1 percent) and HCL Technologies (2 percent). The announcement was made at the 40th AGM (Annual General Meeting) of RIL held in Mumbai. Shares of ICICI Bank (up 0.22%) recouped in the late afternoon and ended in green while Axis Bank closed 0.02% lower.

Globally, Japan's Nikkei was down 0.25 per cent while Hong Kong's Hang shed 0.24 per cent in early trade today. Wipro, Reliance Industries and Zee Entertainment Enterprise were the top Nifty gainers, whereas Bharti Airtel, Indiabulls Housing Finnace and Power Grid Corporation of India were the top Nifty losers.

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