Sensex in the green on RIL earnings; company stock up…

386607-bseMUMBAI: The benchmark BSE Sensex surged over 120 points in early trade after sentiment was bolstered on the back of Reliance Industries’ robust second-quarter earnings announced last Friday.

At 1118 hours though, the benchmark Sensec was at 27,260.59, up 45.99 points or 0.17% higher from previous day’s close, and lower than the opening level.
Brokers said, sustained buying by funds and retailers after Reliance Industries reported its highest ever quarterly net profit of Rs 6,720 crore for the September quarter post trading hours on Friday mainly buoyed sentiment.The 30-share index, which had gained 434.94 points in the previous two sessions, rallied 120.27 points, or 0.44%, at 27,334.87, with stocks of oil and gas, realty, IT, power and capital goods, leading the upmove.
Similarly, the NSE index Nifty edged higher by 17.10 points, or 0.21%, to 8,255.25. Shares of RIL had climbed 5.13% to Rs 959 in early trade. At 1120 hours, the scrip price was Rs 954.00, up Rs 41.80 or 4.58% higher from previous day’s close.
However, a mixed trend in other Asian bourses restricted the rise, brokers added. Among other Asian markets, Shanghai Composite rose 0.74% while Japan’s Nikkei fell 0.57% in early trade. Hong Kong’s Hang Seng shed 0.18%.
The US Dow Jones Industrial Average ended 0.43% higher in the previous session on Friday.

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