Sensex, Nifty rise in early trade on gains in RIL, HDFC twins
Reliance and HDFC twins, ahead of the corporate earnings for the June quarter. The BSE Sensex was trading 217 points or 0.33% higher at 65,482 while Nifty50 was trading at 19,396, up 64 points or 0.33% at around 9.18 am.
From the Sensex pack, Nestle, HDFC Bank, HUL, Reliance, HDFC, and Tata Steel traded with gains, while UltraTech Cement Maruti, Power Grid, Axis Bank, and Bajaj Finance witnessed some losses. Shares of Hindustan Zinc dipped over 4% lower after the board approved an interim dividend of Rs 7 per equity share for the current financial year, which will incur an expenditure of Rs 2,957 crore for the Vedanta subsidiary.
Sectorally, Nifty Bank gained 0.36% and Nifty Auto rose 0.28%. Whereas Nifty IT fell 0.88% and Nifty FMCG dropped 0.54%.
In the broader market, Nifty Midcap 100 lost 0.20%.Global Markets Asian share markets edged cautiously higher on Monday as investors looked ahead to a key reading on US inflation and the start of another corporate earnings season. Japan's Nikkei eased 0.8% in the wake of a higher yen, while South Korea fell 0.1%.
S&P 500 futures and Nasdaq futures both dipped 0.2%, adding to last week's losses. More to come…
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