New Delhi (Anish Yande): Sensex rose by more than 400 points on Monday. The benchmark index rose past the 49,000 mark on the opening bell. The index rose largely due to higher-than-expected gains in IT stocks.
Sensex rose to an intra-day high of 49,260.21 on Monday. Meanwhile, the NSE Nifty 50 rose by more than 110 points to 14,459 in the week's first trading session.
The index rose to a new intraday high of up to 14,474.
Sensex surpasses the 49,000 mark on Monday:
In Friday's session, Sensex had closed at 48,782.51 at a rise of 689 points. The index had risen by more than 1 percent in trading on Friday. Nifty rose to a record high of 14,345 on Friday, a rise by more than 200 points.
On Friday, foreign portfolio investors bought shares amounting to Rs 6,029.83 crore.
IT stocks led to the rise in Sensex. The companies such as HCL Tech, ITC, Bharti Airtel, Hindustan Unilever Limited, and TCS announced their quarterly results which contributed to the rise in IT stocks.
Tata Steel:
Tata Steel declared its Q3 results of the quarter ended on December 31, 2020. Production volumes in India for Tata Steel are recorded at 4.60 million tons in Q3FY21.
Comparitively, the production volumes in Q3FY20 were recorded at 4.47 million tonnes. The production volumes in Europe rose to 2.61 million tons in Q3FY21 year-on-year. Comparitively, the production volumes in Europe were recorded at 2.51 million tons in Q3FY20.
Reliance Infrastructure:
Reliance Infrastructure finalized the sale of its stake in Parbati Koldam Transmission Company Limited. The company would be selling its 74% stake in Parbati Transmission Company to India Grid Trust. Reliance Infrastructure inked the sale of stake for an amount up to Rs 900 crore.
The company would be utilizing the funds for reducing debt to Rs 13,100 crore from Rs 14,000 crore.
Image Credit: Google
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