MARKET UPDATE:Sensex gained 300 points at 41,650 levels and Nifty topped the 12,200-mark
Published On: Friday, November 6, 2020 | By: Team KnowMyStock
The equity markets in Indian were trading firm today's(6th November 2020) early deals, up over half a percent, amid mixed global cues. The S&P BSE Sensex gained 300 points at 41,650 levels and the Nifty50 index topped the 12,200-mark. Reliance Industries was up 2 percent after the conglomerate said that Saudi Arabia’s Public Investment Fund will invest Rs 9,555 crore for a 2.04 percent equity stake in Reliance Retail. Besides, Bajaj Finserv and HDFC were also up 1 percent each. The Nifty sectoral indices were trading mixed. In the broader market, the S&P BSE MidCap and SmallCap indexes were up 0.6 percent, each. Two hundred and nineteen companies including ITC, Cipla, Ashok Leyland, and Bank of India are scheduled to declare their quarterly earnings today.
According to analysts, ITC's revenue from the cigarette business is likely to reach up to 90 percent of the pre-Covid levels; however, its hotel business will be the most adversely impacted due to the outbreak of coronavirus.
Tags: Indian equity market
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