Sensex gains over 100 points; Nifty near 9900

Sensex surges high

The wider Nifty of the National Stock Exchange (NSE) fell by 26.30 points, or 0.27 per cent to provisionally close at 9,873.30 points (at 3.30 p.m.).

The BSE market breadth was bearish with 1,337 declines and 1,180 advances.

Reliance Industries ended at fresh 9-year high of Rs 1,586.20, up 3.76 percent after Chairman and Managing Director, Mukesh Ambani announced bonus issue in the proportion of one share for every share held and unveiled the JioPhone with refundable deposit of Rs 1,500 for three years and monthly rental of Rs 153. Shares of Wipro and Reliance Industries remain in the lead gainers on the benchmark Sensex today.

Both Sensex and Nifty rallied late in Friday's trading as both the indices gained around 0.40 per cent during the day. Bharti Airtel, Idea Cellular (though recovery sharply towards the close), Dish TV, Hathway Cable and GTPL Hathway were down 2-6 percent. Wipro soared 6.4% at Rs 286.30 per share as the company's board has approved a share buyback on Thursday, the company informed the bourses.

Wipro Ltd rises as much as 7.29% to Rs 288.60, its highest since July 2016.

Other gainers included Infosys, Coal India, Asian Paints, NTPC, SBI, TCS, Tata Motors, HDFC Bank and ICICI Bank, rising by up to 1.04 per cent. The stock had, however, underperformed the market over the past one quarter, gaining 7.6% as against the Sensex's 8.44% rise. The stock closed up 9.9% at Rs 10.30 per share on BSE. The stock had hit a high of Rs 291 so far during the day, which is a 52-week high.

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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