Stock market opens with gains, Sensex above 34400 and Nifty 10150

Stock market opens with gains, Sensex above 34400 and Nifty 10150

The stock market opened up today amidst India-China tension. The Bombay Stock Exchange’s 30-share sensitive index Sensex opened 127 points higher at 34335, while the National Stock Exchange’s sensitive index Nifty also started the day trading with a green mark. On Thursday, the Sensex jumped by 700.13 points and closed at the level of 34,208.05. At the same time, the Nifty also closed at 10,091.65 with a gain of 210.50 (2.13%) points. While stocks of Infosys, HCL Tech, Mahindra & Mahindra, Asian Paints are looking weak on BSE, PowerGrid, HCL Tech, Tata Steel, Reliance, NTPC, Airtel, Nestle, HDFC and SBI are seeing a boom.

If we talk about sectoral index, today all sectors except IT are trading on green mark. Nifty Bank, Auto, Financial Services, Media, Metal, Private Bank, FMCG, PSU Bank and Reality index are seeing a boom. On the other hand, if you talk about the Nifty top gainer, Bajaj Finance, IndusInd Bank, Axis Bank and ONGC are the stock heads. Infosys, Coal India, Wipro, HCL Tech are in the list of top losers. The Future Group is in talks with veteran industrialist Mukesh Ambani’s company Reliance Industries to sell stakes in its company Future Retail and some other units. Negotiations between the two sides have moved forward. Sources gave this information. Kishore Biyani-led Future Group and Reliance Industries started talks in this context sometime back. “The talks between the two sides are going on and it has gone a long way,” a source close to the matter said. But so far it has not come to any conclusion.

Earlier, Future Group was exploring a possibility with Premji Invest and private equity firm Samara Capital to sell a stake in Future Retail. Prezi Invest is the investment arm of Wipro chairman Azim Premji. It said that other entities are also involved in negotiations with Reliance Industries. When contacted, the Future Group declined to comment. A Reliance spokesperson said, “As per company policy, we do not comment on media speculation and rumors.” As such, the company constantly assesses various opportunities. If an agreement is reached, it will be a sigh of relief for the Future Group as its promoter Kishore Biyani has defaulted in repaying the debt in March.