sensex increase 200 points,IRCTC strike 5% upper circuit, RIL up 2%

The Indian equity markets were trading firm on Wednesday, lifted mainly by the HDFC twins. The S&P BSE Sensex rose 222 points to 30,420 levels and the Nifty50 index traded around 8,960 levels. ITC, up 2 percent, was the top gainer in the Sensex pack. Besides, HDFC and HDFC Bank were both up 1 percent each.


Among sectoral indices, buying was witnessed in Nifty Media, Nifty Realty, and Nifty Auto while Nifty Private Bank, Nifty Financial Services, Nifty Metals, Nifty FMCG and Nifty IT were trading in the red. Reliance Industries, Zee Entertainment, Bharti Infratel, Bharti Airtel, and Maruti Suzuki were the Nifty50 top gainers, while ONGC, Bajaj Finance, Vedanta, HDFC and JSW Steel were the top losers. RIL surged 8 percent as Facebook will invest Rs 43,574 crore ($5.7 billion) in Reliance Jio Platforms for a 9.99 percent stake making it the largest minority shareholder in Jio that values Reliance Industries’ technology arm at Rs 4.62 lakh crore ($66 billion) pre-money enterprise value.IRCTC surged 5 percent after the Indian Railways decided to double the number of Shramik special trains to 400 a day by this week.

Besides, Bajaj Finance rose 2 percent after announcing its March quarter earnings. Reliance Industries also ticked up 2 percent as its Rs 53,000 crore mega issue opened today. The trend among Nifty sectoral indices was largely positive, led by Nifty FMCG index, up 1.25 percent. A total of 22 companies including Bajaj Auto, Dr Reddy’s Laboratories, UltraTech Cement, and Jubilant FoodWorks, are scheduled to announce their March quarter earnings today.


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