Nifty ends above 9900, Reliance Industries leads

India's Sensex hits 32000; Reliance Industries, Wipro rally

India's Sensex hits 32000; Reliance Industries, Wipro rally

At 3.30 p.m., the wider Nifty of the National Stock Exchange (NSE) rose by 41.95 points, or 0.42 per cent, to provisionally close at 9,915.25 points.

According to traders, a string of strong quarterly earnings, including from index heavyweight RIL, and progress of monsoon made the pitch conducive to more gains.

Meanwhile, the S&P BSE Sensex was up 61.30 points or 0.19% at 31,965.70.

Shares of Wipro and Reliance Industries remain in the lead gainers on Sensex today.

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Stocks of Wipro, India's third largest IT firm, was also trading 7.06 per cent higher at Rs 288 after the company yesterday posted a 1.2 per cent rise in its consolidated net profit at Rs 2,076.7 crore for June quarter. On the back of this announcement, the launch of JioPhone and impressive Q1 results, RIL stock buzzed throughout the day. Wipro soared 6.4% at Rs 286.30 per share as the company's board has approved a share buyback on Thursday, the company informed the bourses. Wipro shares rose 8.17% to a fresh 52-week high of Rs 291.

Other gainers included Coal India, Tata Consultancy Services, Infosys up between 1 percent to 2 percent. Shares of ICICI Bank (up 0.22%) recouped in the late afternoon and ended in green while Axis Bank closed 0.02% lower. The most valuable telecom company as of now, Bharti Airtel slipped almost 4% just after the announcement to the day's low of Rs 403 while Idea Cellular fell as much as 7.01% to Rs 88.2 on BSE. Reliance industries profit figures of 9% beat the market estimates and could be one reason of seeing the index to highs.

Telecom as well as cable operators fell sharply after Jio offers. A total of 18,352.73 lakh shares changed hands in 9,712,846 trades.

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