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Market slips after opening gain: Reliance Industries, HDFC Bank and Kotak Bank in focus

10:19 AM Sep 11, 2020 | Agencies

Domestic equity benchmark Sensex jumped over 100 points in early trade on Friday tracking gains in index majors Reliance Industries, HDFC Bank and Kotak Bank amid fresh foreign fund inflow.

The 30-share BSE index was trading 114.64 points or 0.30 per cent higher at 38,954.96; while the NSE Nifty rose 32.45 points or 0.28 per cent to 11,481.70.

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Titan was the top gainer in the Sensex pack, surging around 3 per cent, followed by SBI, Maruti, TCS, HDFC Bank, Kotak Bank, ITC and UltraTech Cement.

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On the other hand, HCL Tech, IndusInd Bank, Nestle India and Asian Paints were among the laggards.

In the previous session, Sensex ended 646.40 points or 1.69 per cent higher at 38,840.32. The NSE Nifty rallied 171.25 points or 1.52 per cent to 11,449.25.

Exchange data showed that foreign institutional investors bought equities worth Rs 838.37 crore on a net basis on Thursday.

Domestic equities opened on a positive note tracking stock-specific action and fresh foreign fund inflow, traders said.

Further, investor sentiment buoyed after India and China agreed on 5-point roadmap for resolving border standoff in Ladakh.

During the talks between External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi, India and China have agreed on a five-point roadmap including quick disengagement of troops and avoiding any action that could escalate tensions for resolving the four-month-long face-off in eastern Ladakh.

Meanwhile, bourses in Hong Kong and Tokyo were trading with gains in mid-day deals, while Shanghai and Seoul were in the red.

Stock exchanges on Wall Street ended with heavy losses in overnight trade.

Global oil benchmark Brent crude was trading 0.45 per cent lower at USD 39.88 per barrel.

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