Mumbai, July 13 : Reliance Industries Ltd and Infosys lifted Sensex higher on Monday keeping in tune with the global world markets, however the benchmark index capped the gains at the close of the day amidst concerns over rise in coronavirus cases and the resultant weakening economy.
Markets remained volatile during the day and early gains were washed off at the end of the day which closed on a positive note. Sensex, which initially rose by 430 points to 37,024.20, however, closed 99 points higher at 36,694. Nifty rose 47 points to close at 10,815.
Nineteen of the 30 Sensex stocks closed higher. RIL was the top contributor to the Sensex’s gains as the stock logged a new high of Rs 1,947 as the company secured a Rs730 crore from Wireless technology leader Qualcomm by selling a small stake in Jio Platforms. The stock pared some gains and closed 2.97 per cent higher at Rs 1934.30.
Infosys followed next by gaining 1.91 per cent.
BSE Energy was the top sectoral gainer as it moved upwards by 2.47 per cent. BSE Telecom followed with 1.93 per cent gain. BSE Realty was the top sectoral loser as it shed 1.52 per cent.
BSE Finance and Bankex reversed early gains and closed 1.49 per cent and 1.39 per cent lower respectively.
Avenue Supermarts which owns D’Mart dropped 3.86 per cent as it reported an 87.59 per cent decline in consolidated net profit at Rs 40.08 crore for the quarter ending June 2020.
YES Bank continued to fall as it came down 13.33 per cent on Monday after it launched its first public offer to raise Rs 15,000 crore, the floor price of which was fixed at Rs 12 per share recently.
Biocon rose ten percent in early trade to touch a 52-week high after the company said it had received approval for use of its biological drug Itolizumab to treat moderate to severe Covid-19 Patients. The stock pared all the gains and closed 0.07 per cent higher.
The top Sensex gainers included TechM up 5.53 per cent, HCL Tech 3.48 per cent and RIL 2.97 per cent. On the other hand, the top losers included Bajaj Fin 2.41 per cent, HDFC Bank 2.26 per cent and HDFC 2.11 per cent.
Meanwhile, new Coronavirus cases in India continued to rise. Fresh 28,701 cases were registered on Monday and the country-wide infections stood at 8,78,254. The death toll rose to 23,174 with 500 people succumbing to the virus in the last 24 hours.
