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Sensex Trades Higher, Infosys Surges Following Results

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Benchmark indices opened the day higher in trade, following strong gains in IT major Infosys. Reliance Industries which had witnessed selling pressure on Wednesday continued to trend lower.

The Sensex was trading with gains of 130 despite weak cues from across Asia. Overnight, the Dow Jones saw following good results from Goldman Sachs and hopes of a vaccine.

Infosys shares gained after its results beat street expectations. Investors cheered a better than expected net profits and margins, along side better guidance. The stock was up a huge 10 per cent in trade and was locked at the upper end of the circuit filter.

Sensex Trades Higher, Infosys Surges Following Results
 

Reliance Industries, whose shares shed as much as 4 per cent, after its AGM, was trading flat. Banking stocks were extremely subdued in a rising market, with most of the stocks trading flat.

Tech stocks continued their relentless rally with HCL Tech, Tech Mahindra and TCS among the top gainers from the Nifty. Hindalco, Powergrid and GAIL were among the top losers from the Nifty.

The Bank Nifty continued its under performance and was down more than 1 per cent in trade. Meanwhile, most of the Asian markets were trading with marginal losses.

Read more about: sensex
Story first published: Thursday, July 16, 2020, 9:34 [IST]
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