Sensex up 142 points on ray of light from Reliance Power
The Bombay Stock Exchange benchmark Sensex gained 142 points in the initial trade on buying in heavy-weight stocks led by Reliance Power.
The Sensex added 141.57 points to 18,256.82 in the first five minutes of trade. Reliance Industries, Infosys and Tata Steel also registered gains.
The wide-based National Stock Exchange's Nifty rose by 45.70 points to 5,348.60 points.
Buying activity gathered momentum following reports of Anil Ambani's Reliance Power planning to offer bonus shares to compensate for losses to the investors on the first day of its listing.
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- Reiterating his government’s stance on privatisation, the Prime Minister said, “We have made it clear in the new public sector enterprise policy that government will have limited role in only four strategic sectors and all other public sector units can be privatised.”
- After resumption of trade at 3.45 pm, NSE Nifty was quoting 152.95 points or 1.04 per cent up at 14,860.75.
- The scarcity, exacerbated by the pandemic, will be the subject when Biden meets a bipartisan group of US lawmakers on Wednesday to discuss the issue.
- Earlier in the day, NSE had halted trading in its cash and derivative segments at 11.40 am, due to issues with telecom links of its two service providers.