Sensex up by about 80 points; RIL reaches a new lifetime high

Sensex ended the volatile trading session on June 08, 2020 by closing higher by 83.34 points which is 0.24 per cent, at 34,370.58 while Nifty rallied by 25.30 points which is 0.25 per cent to settle at 10,167.45.

After Reliance Industries Limited declared the news of its subsidiary, Jio Platforms receiving its latest funding from Abu Dhabi Investment Authority (ADIA), giving ADIA a 1.16 per cent stake, its shares hit a new lifetime high of Rs 1,624 on BSE, increasing by over 2 per cent on intraday basis.

European indices such as DAX and CAC 40 were seen trading lower by 0.58 per cent and 0.55 per cent respectively, as a result of the prevalent global protests against racism. FTSE 100 was trading up by a mere 0.22 per cent thus, reflecting the end of the stock rallying present during the previous trading sessions on hopes of post-Coronavirus economic recovery. Since the dollar-buying by banks as well as importers and rebounding of crude prices restricted gains of the local unit, rupee stabilised at 75.55, up by 3 paise against the US dollar.

Sensex gainers comprised IndusInd Bank soaring by 6.89 per cent, Axis Bank rallying by 6.18 per cent, Baja Finance gaining by 4.78 per cent, ONGC increasing by 4.60 per cent, Titan Company which went up by 2.87 per cent, Infosys gaining by 2.39 per cent, Tech Mahindra rising by 1.78 per cent, etc.

Sensex laggards included Mahindra & Mahindra dropping by 2.73 per cent, UltraTech Cement which fell by 2.36 per cent, HDFC Bank falling by 1.87 per cent, Tata Steel decreasing by 1.68 per cent, Nestle India which fell by 1.58 per cent, ITC declining by 1.10 per cent, etc.

Amidst BSE sectoral indices, the top gainer was Oil & Gas, up by 2.79 per cent, followed by indices such as IT and TECK increasing by 1.69 per cent and 1.28 per cent respectively. BSE Healthcare index was the top loser, declining by 0.89 per cent. Among the broader indices, BSE small-cap gained by 0.93 per cent while BSE mid-cap ended marginally higher by 0.23 per cent.