Markets

Sensex opens over 150 points higher on first day of 2020; RIL top gainer

The Bombay Stock Exchange (BSE) building in Mumbai. File

The Bombay Stock Exchange (BSE) building in Mumbai. File   | Photo Credit: PTI

NTPC was the top loser, shedding up to 0.29%

Equity benchmark BSE Sensex jumped over 150 points in opening session on the first day of 2020, tracking buying in index heavyweights Reliance Industries, HDFC twins, ICICI Bank, L&T and Axis Bank.

After rising 164 points in early trade on Wednesday, the 30-share BSE index was quoting 131.47 points or 0.32% higher at 41,385.21. Similarly, the broader NSE Nifty rose 46.75 points or 0.38% to 12,215.20.

Reliance Industries was the top gainer in the Sensex pack, rising up to 0.82%, followed by L&T, IndusInd Bank, Bharti Airtel, Tata Steel and Axis Bank. On the other hand, NTPC was the top loser, shedding up to 0.29%. TCS and Nestle India were also trading in the red.

In the previous session, the 30-share gauge tumbled 304.26 points, or 0.73%, to 41,253.74. The Nifty too closed 87.40 points, or 0.71%, lower at 12,168.45.

Meanwhile, on a net basis, foreign institutional investors sold equities worth ₹1,265.10 crore, while domestic institutional investors purchased shares worth ₹585.07 crore on Tuesday, data available with stock exchanges showed.

According to experts, market is currently witnessing a navigation of fund flows from large-caps to mid-caps in expectation of lucrative government policies and positive global environment which is supporting investor sentiments.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul remained closed, while those on Wall Street ended on a positive note on Tuesday. Brent futures, the global oil benchmark, slipped 0.96% to $66.03 per barrel.

Meanwhile, the Rupee appreciated 5 paise to 71.30 against the U.S. Dollar in morning session.

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Printable version | Feb 19, 2020 11:54:38 AM | https://www.thehindu.com/business/markets/sensex-opens-over-150-points-higher-on-first-day-of-2020-ril-top-gainer/article30449132.ece

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