Sensex gains 250 points, Nifty nears 21,700 level in early trade

Published on: 20 Jan 2024 at 12:59 PM

Published by: The fact news

The Fact News Service

Mumbai, January 20

Equity benchmark indices opened on a positive note on Saturday, with Sensex rising 250 points on the back of an uptick in financial stocks.

The 30-share BSE Sensex rose 250.08 points or 0.35 per cent to 71,933.31 points in early trade. The Nifty climbed 75.80 points or 0.35 per cent to 21,698.20 points.

Shares of HUL and Reliance Industries were under pressure after their December quarter results.

Reliance Industries shares were trading 0.18 per cent down at Rs 2,730 in morning deals post its third quarter earnings announcement on Friday.

The company posted a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals.

The stock of HUL was down 2.68 per cent at Rs 2,496 apiece in initial deals.

Hindustan Unilever Ltd on Friday reported a 1.08 per cent increase in consolidated net profit at Rs 2,508 crore in the third quarter ended December 2023.

Among the Sensex firms, HDFC Bank, PowerGrid, NTPC, Bajaj Finance, Sun Pharma and ICICI Bank, ITC, Bajaj Finserv were the major gainers.

HUL, Wipro, UltraTech, HCL Tech were among the losers.

Most of the financial stocks were trading in the green.