Equity benchmark indices open positively with Sensex rising 250 points, driven by financial stocks. The BSE Sensex and Nifty climb, but HUL and Reliance Industries shares suffer from their December quarter results. Most financial stocks perform well, while global oil benchmark Brent crude declines. Domestic equity markets are predicted to have subdued activity, with normal trading sessions announced on Saturday.
Sensex and Nifty erased early gains and closed in the red. Index heavyweights such as HDFC Bank, Reliance Industries, and Infosys dragged the indices. Gainers and losers in the stock market were also discussed, including Yes Bank and Jammu & Kashmir Bank. Global market trends, oil prices, and updates on the rupee were also provided.
Life Insurance Corporation of India (LIC) has sold 2% of its holding in Sun Pharma for ₹4,699 crore via open market sale. The sale resulted in a decrease in LIC’s shareholding from 5.023% to 3.012%. Sun Pharma is engaged in the business of manufacturing and marketing branded and generic formulations as well as Active Pharma Ingredients (APIs).
