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Sensex Trades Higher, Banking Stocks Gain


Benchmark indices opened the day higher, even as global markets, including the Asian markets were mostly trading higher. The Sensex was trading with gains of 184 points, while the Nifty was higher by 65 points.


Sensex Trades Higher, Banking Stocks Gain

Leading the set of gainers were some of the banking stocks like HDFC Bank and ICICI Bank. Both are heavyweight stocks in the index.

Shares in Bajaj Finance was trading flat, after the company reported net profits at Rs 948.10 crore, for the quarter ending March 31, 2020, which was down 19 per cent YoY. The company said it is focussing on preserving the capital and reducing operating expenses.

Shares in L&T Infotech rallied as much as 5 per cent, after the company reported better than expected quarterly results. The company reported a consolidated net profit to Rs 427.5 crore for the January-March 2020 quarter.

Shares in Reliance Industries was trading flat, even as the company's rights issue opens for subscription today.

Apollo Tyres shares were up 2 per cent. Even as the company reported a 7.36 per cent decline in its consolidated net profit to Rs 77.8 crore for the fourth quarter ended March 31, 2020.

Meanwhile, most Asian markets were trading flat to marginally positive.

Read more about: sensex banking stocks
Story first published: Wednesday, May 20, 2020, 9:32 [IST]
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