MARKET UPDATE:Sensex up 430 points,around 36,450 levels, and Nifty topped the 10,700 level
Published On: Wednesday, July 15, 2020 | By: Team KnowMyStock
In Indian markets, today(15th July 2020)benchmark indices rose over one percent on the back of firm global cues. The S&P BSE Sensex was trading around 36,450 levels, up 430 points, and the broader Nifty50 index topped the 10,700 level. Infosys gained 2 percent ahead of the announcement of its June quarter results later in the day. Besides, Reliance Industries was also trading one percent higher ahead of the company's 43rd Annual General Meeting which will be held via videoconferencing later in the day. Moreover, Wipro surged 10 percent in early deals after reporting better-than-expected quarterly numbers. All the Nifty sectoral indices were trading in the green, led by the Nifty IT index, up 2 percent.
Fifty-three 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.
Tags: Indian equity market
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