New Delhi: Indian major equity benchmarks – Sensex and Nifty – have edged higher in trade on Thursday on the back of continued buy support in indices like Reliance Industries (RIL), ITC and Infosys.
The BSE Sensex was up 454 points at 58,795, while the NSE Nifty was up 121 points at 17,536.
Giants like RIL, Infosys, Kotak Mahindra Bank raised the Sensex up to 454 points.
However, Sensex slipped over 100 points on Thursday in morning trade, tracking losses in index majors ICICI Bank, HDFC Twins and SBI amid persistent foreign fund outflows. But soon it gave up intra-day losses and Sensex jumped 758 points from the day’s low, while Nifty 50 reclaimed its psychological level of 17,500 after hitting an intra-day low of 17,351.
Despite opening slightly higher, the 30-share index ended red at 58,215.45, down 125.54 points, or 0.22 per cent. Similarly, Nifty was trading at 17,384.90, down 30.15 points or 0.17 per cent.
RIL stock soared as high as Rs 2,503 and ended at Rs 2,499, up 6.3 per cent, after the company decided to implement a plan of arrangement to transfer the gasification undertaking to a wholly owned subsidiary.
According to RIL, restructuring of ‘gasification’ assets will help in production of these chemicals and use of ‘syngas’ as a reliable source of feedstock to meet the growing domestic demand, resulting in a lucrative business opportunity.
Gains in oil and gas, IT and pharmaceuticals stocks pushed the headline index higher, however, losses in financial and automobile stocks limited the upside.
Bank Nifty and India VIX closed with a fall on Thursday.
On Thursday, the Sensex closed at 58,340, down 332 points. On Wednesday, the day’s trading closed at 17,415 with a fall of 88 points, the Nifty index closed with a gain of 121 points before closing.
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