Rediff.com  » Business » Benchmark indices end mixed; RIL saves the day

Benchmark indices end mixed; RIL saves the day

Source: PTI  -  Edited By: Nandita Mallik
Last updated on: January 17, 2020 16:28 IST
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In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers.

On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers.

Stocks

Illustration: Dominic Xavier/Rediff.com

Market benchmarks Sensex and Nifty ended on a mixed note after a volatile session on Friday, with gains in Reliance Industries offsetting losses in other heavyweights HDFC, ICICI Bank and TCS.

After hitting a record intra-day high of 42,063.93, the 30-share BSE Sensex settled 12.81 points, or 0.03 per cent, higher at 41,945.37.

 

The broader NSE Nifty, however, ended 3.15 points, or 0.03 per cent, down at 12,352.35.

On the Sensex chart, Bharti Airtel was the top gainer, rallying 5.47 per cent, after experts said the Supreme Court's rejection of a review of its order that put Rs 1.47 lakh crore liability of past dues on telcos, will weaken Vodafone Idea's ability to compete in the Indian market; in turn, providing an opportunity for Bharti Airtel and Reliance Jio to gain market share.

Shares of Vodafone Idea plunged 25.21 per cent.

Ahead of their quarterly earnings, Reliance Industries and HCL Tech advanced up to 2.79 per cent, while TCS fell 0.79 per cent.

Heavyweight HDFC dropped 1.23 per cent.

In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers.

On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers.

According to traders, domestic investors are awaiting directional cues from key corporate results amid concerns over higher bank non-performing assets and a spike in retail inflation.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended higher.

Brent crude oil futures rose 0.36 per cent to $64.86 per barrel.

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Source: PTI  -  Edited By: Nandita Mallik© Copyright 2020 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
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