Sensex Hovers At 36,000; Reliance Industries In Limelight Post Jio-Intel Capital Deal

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Sensex Hovers At 36,000; Reliance Industries In Limelight Post Jio-Intel Capital Deal

Auto and IT stocks saw buying interest, while financials stocks were seeing profit-booking.

Domestic stock markets are trading firmly in the green, albeit off the highs of the day, in mid-morning trading. The markets had started the last session of the week on a positive note, tracking gains in Asian equities. The S&P BSE Sensex index rose as much as 0.74 per cent – or 266.51 points – within the first few minutes of trade, having begun the day at 36,110.21. The broader NSE Nifty 50 benchmark gained to as high as 10,628.55 soon after opening stronger at 10,614.95 compared to its previous close of 10,551.70.

At 9:35 am, the Sensex traded 166.46 points – or 0.45 per cent – higher at 35,998.59, while the Nifty was up 50.60 points – or 0.48 per cent – at 10,601.70.

Reliance Industries was in the limelight, with the shares gaining more than 1 per cent, after the US-based Intel Corporation’s investment arm, Intel Capital, bought a 0.39 per cent stake in Jio Platforms for Rs 1,894.50 crore. The stock was trading 0.8 per cent higher at Rs 1,775 after touching an intra-day high of Rs 1,785, on the BSE.

Auto and information technology stocks were witnessing buying interest in morning trading, while financials stocks were seeing profit-booking.

The top percentage gainers on the NSE were Adani Ports, Tata Motors, Hero MotoCorp and Bajaj Auto, gaining between 2.2 per cent and 5.5 per cent each, on the NSE. Wipro and TCS also gained about 1 per cent each, on the NSE.

On the other hand, Hindalco, Vedanta and Tata Steel had registered losses of around 1 per cent each.

The NSE market breadth was strong. Out of 2,119 stocks traded on the NSE, there were 903 advancing stocks as against 775 declines.

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