Inventory market LIVE: Sensex rises 700 factors, Nifty hovers round 14,750; India VIX falls over eight%
Stock market news today | Sensex, Nifty, Stock Quotes LIVE: The domestic stock market benchmarks BSE Sensex and Nifty 50 traded more than one percent higher on the Monday following last week’s crash. BSE Sensex was hovering around 49,680 while the broader Nifty 50 index traded above 14,700. Shares in blue chip companies such as HDFC Bank, ICICI Bank, Reliance Industries Ltd. (RIL), Infosys and Tata Consultancy Services (TCS) made significant contributions to Sensex’s upward trend. Telecommunications giant Bharti Airtel was the biggest BSE Sensex laggard with a drop of almost 3 percent, followed by Bajaj-Auto and Dr. Reddys Laboratories. All of Nifty’s industry indices traded in positive territory, led by the Nifty Media, Nifty IT and Nifty Auto indices, all of which gained nearly 2 percent.
Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has further increased its stake in US-based technology company SkyTran for the development of pod taxis. The company said in a statement on Sunday that it would increase its stake on a $ 26.76 million investment at full dilution to a majority of 54.46 percent.