MARKET LIVE: Sensex zooms 700 points, Nifty tops 10,800; Nifty IT up 5% – Business Standard

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MARKET LIVE: Sensex zooms 700 points, Nifty tops 10,800; Nifty IT up 5% – Business Standard


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MARKET LIVE | Markets | Reliance Industries Ltd

SI Reporter  |New delhi 

Representative image

Benchmark indices rose over a per cent on Wednesday, lifted mainly by tech stocks and Reliance Industries. 

Infosys

gained 6 per cent ahead of the announcement of its June quarter results later in the day. Besides, Reliance Industries was also trading 2 per cent higher ahead of the company’s 43rd Annual General Meeting which will be held via videoconferencing later in the day.

WHAT TO EXPECT FROM RELIANCE AGM

Moreover,

Wipro

surged 15 per cent after reporting better-than-expected quarterly numbers.

All the Nifty sectoral indices were trading in the green, led by Nifty IT index, up 5 per cent.


Results today

Today, a total of 53 companies including Infosys, Bandhan Bank, and Larsen & Toubro Infotech, are scheduled to announce their quarterly results.

Infosys

is expected to report subdued numbers due to disruptions caused by the Covid-19 pandemic. Meanwhile, the fall in Ebit margin could be limited due to the benefit from rupee depreciation, cut in travel costs, and optimisation on variable costs.

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