Nifty Trades Higher, Sensex Crosses 35,000 Points

Benchmark indices opened the day higher, even as most Asian markets were subdued. The Sensex was trading at 35,011 points, crossing the 35,000 points mark once again.

The Nifty was higher by 88 points at 10,318 points. HDFC saw its shares gain after the housing finance company said that its board has approved raising up to Rs 14,000 crore in tranches through various means.

Shares in LIC Housing Finance fell as much as 3 per cent after the company reported a 40% decline in its net profit to Rs 421.43 crore for the March 2020 quarter. The stock was last trading at Rs 274 on the NSE.

Among the early gainers from the Nifty were Cipla, Bajaj Finance, Bajaj Finserv and Coal India.

Cipla shares gained as much as 7 per cent, after reports that company and Hetero have received an emergency marketing approval for Remdesivir for the treatment of severe coronavirus patients from the drug controller of India.

Shares in Coal India gained ground after reports that the company will engage mine developer cum operators to increase its coal output and reduce import dependency of the dry fuel in the coming years.

Wipro was among the stocks that declined in early trade.