Sensex gains 53 pts on RIL earnings; capital goods, tech gain

The benchmark BSE Sensex rose some 53 points in early session today after sentiment was boosted by Reliance Industries’ encouraging fourth quarter earnings numbers, which were announced last week.

The 30-share index, which had lost 42.24 points in the previous session on Friday, recovered 52.89 points, or 0.20 per cent, at 25,891.03, with capital goods, technology, realty, IT and banking sectors supporting the upside.

Similarly, the NSE Nifty index edged higher by 11.70 points, or 0.14 per cent, to 7,911.
Brokers said selective buying by funds and retailers after better-than-expected quarterly earnings by RIL announced post trading hours on Friday, mainly influenced the trading behaviour.

RIL shares climbed Rs 6.15, or 0.59 per cent, to Rs 1,044.90 in early trade after the company reported a 16 per cent jump in its fourth quarter net profit at Rs 7,398 crore on higher refining and petrochemical margins.

However, a weak trend in other Asian bourses restricted the rise, the brokers added.
Japan’s Nikkei fell 0.76 per cent while Hong Kong’s Hang Seng shed 0.55 per cent in early trade today. The Shanghai Composite Index fell 1.91 per cent.

The US Dow Jones Industrial Average had ended 0.12 per cent higher in Friday’s trade.