Nifty opens above 10,900 mark; Reliance Industries, ONGC stocks gain
Equity tips:-
- Domestic benchmark indices opened higher and hit their lifetime highs, led by gains in shares of Oil and Natural Gas Corp and Reliance Industries. The broader markets were trading with a positive bias as the BSE MidCap Index and BSE SmallCap Index gained over 0.2%.
- At 10:01 AM, the BSE Sensex was trading at 35,646, up 135 points, while the broader Nifty50 index was ruling at 10,903, up 9 points.
- Shares of ONGC rose over 5% today as Hindustan Petroleum Corp's (HPCL) buyout valuation is seen favorable for the company. However, shares of HPCL fell over 2% as the price at which ONGC said it will buy the stake in the company was much below market expectations.
- Shares of Reliance Industries rose over 2% today as the company's consolidated net profit for Oct-Dec rose 25.1%, beating analysts' estimate.
- Shares of Wipro fell over 1% today as the company posted an 11.9% decline in its Oct-Dec consolidated net profit to Rs1800cr.
- Volatility index India VIX inched up 4.77% at 14.6500.
- Indiabulls HF (+5.7%), ONGC (+5.3%), Adani Ports (+4.9%0, Yes Bank (+2.4%) and RIL (+2.3%) were the top gainers on Nifty50.
- Ambuja (-3%), UltraTech (-2.1%), HPCL (-1.3%), Infosys (-1.3%) and Aurobindo (-0.87%) were the top losers in today’s trade.
- Out of 1,656 stocks traded on the NSE, 838 advanced, 620 declined and 198 remained unchanged today.
- A total of 12 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.
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