Sensex gains over 100 points; Nifty near 9900

Sensex gains over 100 points; Nifty near 9900

Sensex gains over 100 points; Nifty near 9900

However, the market breadth closed negative as about 1,425 shares declined against 1,254 advancing shares on the BSE.

Analysts say the stock may reach its new nine-year high, citing likely announcements in the Reliance Industries AGM event today where it is likely to launch a new 4G Jio phone at an unexpected price tag of Rs 500.

The NSE Nifty gained 26.65 points, or 0.26 per cent, to 9,899.95.

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Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) bought shares worth Rs 1,956.51 crore during the week, as per Sebi's record including the provisional figure of July 21. Wipro shares rose 8.17% to a fresh 52-week high of Rs 291.

Major gainers in the 30-share index were Wipro (7.43%), Reliance Industries (2.74%), Coal India (1.27%), GAIL (India) (1.17%), Infosys (1.10%), and Asian Paints (0.94%). That represents a range from a slight fall of 0.5 percent to a 1.5 percent increase over the three months to September 30.

Reliance Industries Limited (RIL) chairman Mukesh Ambani on Friday announced a bonus share in the ratio 1:1. Shares of ICICI Bank (up 0.22%) recouped in the late afternoon and ended in green while Axis Bank closed 0.02% lower. Bharti Airtel, Idea Cellular (though recovery sharply towards the close), Dish TV, Hathway Cable and GTPL Hathway were down 2-6 percent.

Mayawati accuses BJP of caste, religion-based politics
Bharatiya Janata Party ( BJP ) leaders demanded that Mayawati should apologise for her "threatening" comments in Parliament . For that she needs to work hard among the people in Uttar Pradesh and that would require a change of functioning style.

The IT sub-index of NSE, Nifty IT, surged 1.88 per cent as Wipro earnings boosted sentiment for other IT stocks like HCL Tech, which will report its earnings next week.

Shares of Balaji Telefilms also soared almost 9% today after Reliance Industries board approved a plan to pick almost 25% stake in the company by acquiring 2.52 crore for about Rs 413 crore.

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