Indices edge higher amid positive global cues; Sensex up 250 pts; Nifty above 19,400
The domestic equity indices opened in positive territory on Wednesday, August 30, mirroring global peers as inflationary concerns showed few signs of easing. On the sectoral front, except oil & gas, all indices traded in the green.
Last seen, the S&P BSE Sensex was trading 0.41 per cent or 266.64 points higher at 65,342.46 levels and the NSE’s Nifty was up 0.39 per cent or 75.9 points at 19,418.55.
Among Nifty 50 stocks, 43 advanced, whereas seven declined.
In the broader market, Nifty Mid Cap 100 and Small Cap 100 were up above half a per cent.
BUZZING STOCKS
Jio Financial stock hit the upper circuit at 5 per cent after Reliance Industries Chairman Mukesh Ambani announced that Jio Financial Services would enter the insurance business.
SBFC Finance shares were up over 4 per cent a day after the company posted its Q1 results.
Zomato shares were up over 3 per cent after 10 crore shares changed hands through a block deal.
G R Infraprojects stock was up nearly 2 per cent as its two subsidiaries GRBR tied up with NHAI for a Rs 1,457 crore highway project.
MPS shares were up over 4 per cent after its subsidiary, MPS Interactive Systems announced to buy a 65 per cent stake in four companies.
Reliance Infrastructure shares were up over 1 per cent after the company received an arbitral award of Rs 992 crore.
Capacite Infraproject Ltd shares climbed over 1 per cent after Goldman Sachs Investments (MAURITIUS) sold 3.75 lakh shares at 203.19 per share.
Hindalco and Tata Steel ended among the Nifty top winners after the US Metals Index was up 3.2 per cent in the overnight trade and Alcoa’s stock price was up 4 per cent.
On the flipside, oil marketing companies HPCL, BPCL, and IOCL shares declined in the morning deals after the government reduced the price of gas cylinders by Rs 200.
InterGlobe Aviation’s scrip fell nearly 2 per cent after the Directorate General of Civil Aviation called for an inquiry into the aircraft shutdown case.