Published: Sun, July 23, 2017
Economy | By Melissa Porter

Indian shares end higher; Reliance Industries leads

Indian shares end higher; Reliance Industries leads

The 30-share BSE Sensex closed at 32,028.89, up by 124.49 points while the broader 50-share NSE Nifty gained 41.95 points to end at 9,915.25.

"Anupam Singhi, COO, William O'Neil India said", The benchmark indices started on a positive note on Monday, as the market continued its momentum from last week.

In Asia, stocks took a pause after gaining for nine days.

The Sensex touched a high of 32,057.12 points and a low of 31,859.50 points during intra-day trade.

"The Board of Directors approved a buyback proposal, subject to the approval of shareholders through postal ballot, for purchase by the company of up to 343.75 million equity shares of Rs 2 each (representing 7.06 per cent of total equity capital)", Wipro said in a statement.

Shares of RIL jumped over 2% to touch Rs 1,564 per share while Wipro was trading higher by 6.7%, at Rs 287.05 per share. The announcement was made at the 40th AGM (Annual General Meeting) of RIL held in Mumbai.

Among the 31-share Sensex pack, 23 stocks rose and remaining 8 stocks fell during the week.

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined. The most valuable telecom company as of now, Bharti Airtel slipped almost 4% just after the announcement to the day's low of Rs 403 while Idea Cellular fell as much as 7.01% to Rs 88.2 on BSE.

However, ITC ended lower by 14.44 percent, Hero Motoco 1.88 percent, NTPC 1.62 percent and Tata Steel 1.23 percent.

Key equity indices-BSE Sensex and NSE Nifty on Friday opened in green after closing in red on Wednesday amid muted corporate earnings.

The bank reported that it earned a Net profit of Rs 372.41 crore for the quarter ended June 30, 2017, up 21.16% over Rs 307.36 crore for the quarter ended June 30, 2016.

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