Mumbai, July 30: The stock market opened higher on Thursday, a day after equities came under heavy selling pressure. The BSE S&P Sensex began the trading day with 210 points higher at 38,281.86, while the NSE Nifty 50 opened its account with a gain of 54 points at 11,257.75.
Beginning the day on a positive note, the domestic stock market tracked gains in Asian shares amid COVID-19 pandemic. The initial gainers in the opening trade are led by banking, financial services and IT shares. At 10.08 am, the Sensex traded 252.98 points - or 0.66 per cent - higher at 38,324.11, while the Nifty was at 11,276.20, up 73.35 points - or 0.65 per cent - from its previous close. Sensex Closes 422 Points or 1.1 Percent Lower at 38,071, Reliance Falters by 4 Percent.
Among the top gainers in early trade in BSE S&P Sensex include Bharti Airtel, TCS, Wipro, HCL and Infosys. Also, Cipla, HDFC Bank, UPL, TCS, Asian Paints, Britannia, Tech Mahindra, SBI, Bajaj Finance, Eicher Motors, L&T and Titan Company emerged as a gainer in early trade.
On the contrary, BPCL emerged to be the biggest losers in the early trade, followed by Ruchi Soya and Hathaway Cable. Also, HPCL, Indian Oil Corp, PVR, SAIL, Ashok Leyland, GSK Pharma, and India Bulls Housing Finance emerged as losers in the early trade.
Meanwhile, Dr Reddys Laboratories share price touched a 52-week high of Rs 4,447.80, rising over 3 per cent on July 30. The rise in share price has taken place after the company came out with its June quarter earnings reporting a 12.6 per cent year-on-year (YoY) drop in consolidated net profit at Rs 579 crore for the quarter ended June 2020.
(The above story first appeared on LatestLY on Jul 30, 2020 10:16 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).