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Sensex Falls 700 points From day’s High, Wipro Surges 16%

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Markets ended the day marginally higher with the Sensex giving-up gains of as much as 700 points from the days high, following selling pressure in Reliance Industries, which fell following its AGM.

The stock, which was up more than 2 per cent in trade ahead of its AGM, dropped sharply by 5 per cent, during the day. Most of the good news like a likely share sale to google by Jio Platforms had been factored in and this led to profit booking in the stock.

Apart from this, Mukesh Ambani's comments that the Saudi Aramco deal has not gone down as per the timeline, saw some selling pressure in the stock.

Sensex Falls 700 points From day’s High, Wipro Surges 16%
 

Wipro had a fantastic day in trade with the shares ending more than 16 per cent higher, as IT stocks continued to perform and banking stocks underperform. Shares in Infosys too surged and ended the day higher by 6 per cent. The company is slated to announce its quarterly numbers later today. '

Apart from Reliance Industries, which led declines on the Nifty, Bharti Airtel, Zee Entertainment and Bharti Infratel were the other losers in trade.

Meanwhile, most of the European markets were trading with gains led by the German DAX.

Read more about: sensex wipro
Story first published: Wednesday, July 15, 2020, 15:41 [IST]
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