February 22, 2024


Delighting finance buffs

Sensex rises over 300 points, Nifty above 10,100; RIL hits new high

Domestic markets opened on a positive note on Friday as both benchmark indices were trading in the green, in line with positive global cues.

At 9:30 am, BSE Sensex was up 335.12 points or almost 1 per cent at 34,315.12, while NSE Nifty was trading 0.88 per cent higher at 10,116.90 points.

Markets are expected to be largely positive as more business continue to reopen due to eased relaxation under the government’s ‘Unlock 1’ plan.

Some of the top performers in morning trade are Tata Motors, SBI, Tata Steel, Sun Pharma, HDFC Bank, Bharti Infratel, ONGC and Hindalco. On the other hand, some of the top laggards in morning trade were TCS, Bajaj Auto, BPCL and Infosys.

Reliance Industries Limited (RIL) shares also gained over 1.8 per cent after it announced a fresh investment by Abu Dhabi-based Mubadala in its digital business wing, Jio Platforms.

RIL shares were trading at Rs 1,610 or almost 2 per cent higher in morning trade after the deal.

All Nifty sectoral indices were trading in green with Nifty Media and Metal leading the rally.

While markets are expected to perform well due to fresh investor optimism from positive global cues and relaxed lockdown restrictions, the rising number of positive coronavirus cases still remains a concern for Indian markets.

On Friday, India registered its highest single-day rise of 9,851 coronavirus cases, taking the total number of reported cases in India to 2,26,770. Of these, 1,10,960 are active cases. The death toll has also gone up to 6,348 after fresh 273 deaths.

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