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Sensex Ends 200 Points Higher, Reliance Rallies

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Benchmark indices ended the day higher, led by strong gains across global markets, including the Asian markets. Dow Futures also gained almost 1 per cent in trade after the NASDAQ recouped all its losses for the year and turned positive for 2020.

Sensex Ends 200 Points Higher, Reliance Rallies
 

Reports that Chinese and US officials would meet to take trade agreements forward also helped sentiments.

The Sensex ended the day with gains of 199 points, while the Nifty was higher by 52 points.

Shares in ICICI Securities ended the day sharply lower despite a jump in profit after tax at Rs 156 crore for the March quarter. The stock ended the day lower by almost 5 per cent lower.

Reliance Industries ended the day near 3.6 per cent higher, after the company announced a third investment in Jio Platforms with Vista Equity Partners to invest Rs 11,367 crore for a 2.32 per cent equity stake.

Hindustan Unilever was up nearly 5 per cent, after GlaxoSmithKline Plc (GSK) said it has offloaded its 5.7 per cent stake in Indian FMCG for around Rs 25,480 crore.

Private sector bank, RBL saw its share price slump 7 per cent after net profits at the bank halved. The shares ended the lower at Rs 119.35.

Banking stocks, which have had a fair bit of reaction this week, were among the losers, including the likes of Bandhan Bank and Axis Bank.

Read more about: sensex nifty
Story first published: Friday, May 8, 2020, 15:41 [IST]
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