July 16, 2020 | 12:01 AM IST
market

Sensex opens 554 points higher; IndusInd Bank and SBI among top gainers

On Monday Sensex opened 1.6% (554 points) higher at 34,841.17 while Nifty added 184 points or nearly 2% to open at 10,326.75. The Indian stocks, on Friday, closed on a positive note settling at 34,287.24.

IndusInd Bank that surged over 9% was the top gainer. The other major gainers included the State Bank of India rising 5.3%, while Axis Bank, ICICI and Bajaj Finance, surged between 4-7% and Reliance Industries rose to a 52-week high (2.32%), a day after declaring that Abu Dhabi Investment Authority will buy 1.16% of its digital unit Jio Platforms for Rs 56.83 billion.

Also, Yes Bank was up by 8.5% and has been reaffirmed BBB status by credit rating company CRISIL. 

However, Sun Pharma, Nestle India and Bharti Airtel lagged behind during the day.

Also, Aditya Birla Capital reported a 44.2% decline in its consolidated net profit to Rs 144 crore in the fourth quarter of the Financial Year that ended on March 2020. Similarly, Karnataka Bank reported a 56% decline in net profit for March quarter at 27.31 crore and Fast-moving consumer goods (FMCG) Jyothy Labs had posted a net profit of Rs 66.83 crore in the January-March quarter of the last fiscal.

Editor In Chief

Editor In Chief is an publisher and journalist. He is regular columnist of the website NewsInInd. He is experienced in national and political issues with more than 500 blogs.