Sensex surges 174 points in early trade on corporate earnings

  • PTI, Mumbai
  • Updated: Jul 21, 2014 13:19 IST

The benchmark BSE Sensex rose almost 174 points in early trade on Monday on sustained buying by foreign funds and retail investors after Reliance Industries reported encouraging earnings.

Besides, progress of monsoon and a firming trend at other Asian markets also influenced the trading sentiments here. The 30-share index, which had surged over 634 points in the previous four sessions, advanced 173.83 points, or 0.68%, to 25,815.39, with all sectoral indices, led by oil & gas and consumer durables, trading in positive zone with gains up to 1.27%.

Similarly, the broader National Stock Exchange Nifty regained the 7,700-mark by rising 42.80 points, or 0.56%, to 7,706.70.

Buying activity gathered momentum after Reliance Industries, operator of the world's largest single location refinery complex, reported a 13.7% rise in April-June quarter consolidated net profit at Rs 5,957 crore, brokers said.

Shares of Reliance Industries climbed 2.27% to Rs 998.85 in opening trade. Further, a firming trend in the Asian region influenced buying, they said.

Stocks of HDFC Bank were up 0.79% to Rs 839 and HDFC Ltd rose 1.12% to Rs 992 ahead of their first quarterly earnings to be announced on Monday.

Among other Asian markets, Hong Kong's Hang Seng was up 0.13% in early trade o Monday, while Japan's markets are closed for a public holiday.

The US Dow Jones Industrial Average ended 0.73% higher in Friday's trade on the back of corporate earnings.

From Around the Web
Sponsored by Revcontent

also read

IMF head calls for quick end to Brexit uncertainty
Show comments

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Chrome and Ad BlockPlus users

1.Press the ‘ABP’ icon in your toolbar at top right of this page

2. Click on ‘Enabled on this site’; this should now change to ‘Disabled on this site’


chrome



For Chrome and Ad Block users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don’t run on pages on this domain’ and then click ‘exclude’ on the pop up


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Mozilla and AdBlock Plus (ABP) users

1.Press the ‘ABP’ icon in your toolbar

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Internet Explorer and AdBlock Plus users

1.Press the ‘AdBlock Plus’ icon in your status bar at the bottom of the screen

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Safari and AdBlock users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don't run pages on this domain’ and then click 'exclude'


chrome