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  • Sensex gains over 97 pts in early trade on robust RIL earnings

    Published on April 20, 2015

    sensexThe benchmark BSE Sensex rose over 97 points in early trade Monday after sentiments were bolstered on the back of Reliance Industries’ encouraging fourth quarter earnings announced last week.

    The 30-share index, which had lost 602.34 points in the previous three sessions, recovered by 97.36 points, or 0.34 percent, at 28,539.46, with stocks of consumer durables, metal and power sectors, leading the rise.

    Similarly, the National Stock Exchange index Nifty edged higher by 13.95 points, or 0.16 percent, at 8,619.95.

    Brokers said selective buying by funds and retailers after better-than-expected quarterly earnings by Reliance Industries announced post trading hours on Friday, mainly influenced the sentiments.

    RIL shares climbed 1.19 percent to Rs 937.95 in early trade after the company posted 8.5 percent rise in its fourth quarter net profit at Rs 6,381 crore.

    However, a weak trend in other Asian bourses restricted the rise, brokers added.

    Among other Asian markets, Japan’s Nikkei fell by 0.77 percent while Hong Kong’s Hang Seng shed 0.44 percent in early trade today.

    The US Dow Jones Industrial Average ended 1.54 percent lower in the previous session on Friday.

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