Sensex, Nifty trade higher in volatile trade; HCL Tech shares up 1% post June quarter results

The 30-share Sensex was up 193 points or 0.53 per cent to trade at 36,665, while the broader Nifty 50 index was testing 10,800 level

Following the positive global cues, headline indices BSE Sensex and Nifty 50 were trading in the green on Friday, led by gains in metal stocks. The 30-share Sensex was up 193 points or 0.53 per cent to trade at 36,665, while the broader Nifty 50 index was testing 10,800 level. Index heavyweights such as Reliance Industries (RIL), HDFC, HDFC Bank, Hindustan Unilever and ICICI Bank were the major contributors to the up move in the indices. “While we have opened in the green, I would still look out for the crossing of 10850 – until then I would not rule out the possibility of a range movement. It is also possible that we might need to wait until next week to see a decisive trend in the market,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Shiv Nadar resigns as HCL Tech’s chairman: HCL Tech’s board of directors appointed Roshni Nadar Malhotra, Non-Executive Director as the chairperson of the Board of Directors in place of Shiv Nadar, who expressed his desire to step down from the position of the Chairman. Shiv Nadar would continue to be the Managing Director of the Company with the designation as the Chief Strategy Officer of the Company, the company informed. HCL Technologies reported 31.7 per cent rise in consolidated net profit at Rs 2,925 crore for the June 2020 quarter.

Top BSE Sensex gainers: Tata Steel, ONGC, Titan Company, Bajaj Finance, Asian Paints, Bharti Airtel and HDFC were among the top Sensex gainers. On the flip side, Infosys, TCS, Tech Mahindra, Nestle India and Sun Pharma were the top losers.

Nifty Metal index jumps 2.5%: Barring Nifty IT and Nifty Pharma, all the sectoral indices were trading in the positive territory. The Nifty Metal index was up 2.55 per cent while Nifty Auto index gained 1.44 per cent, followed Nifty Bank index which was trading 1.12 per cent up.

Corporate earnings today: ICICI Lombard, Coffee Day Enterprises, Granules India, Hathway Cable, Britannia Industries are among 32 companies that scheduled to announce their quarterly earnings later in the day today.

FII and DII data: On Thursday, foreign institutional investors (FIIs) sold shares worth Rs 1,091.08 crore while domestic institutional investors (DIIs) bought shares worth Rs 1,659.91 crore on a net basis, according to the provisional data available on the NSE.