Reliance group calls the shots - Views on News from Equitymaster

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Reliance group calls the shots

Jan 23, 2001

The BSE Sensex closed at 4,303 (up 36 points) and the NSE Nifty closed at 1,356 (up 8 points). The rupee was trading at Rs 46.34 to a dollar. Buying in both the Reliance companies contributed majorly to the upward movement in the market today. Contribution of Reliance petroleum (up 3.1%) was 12.2 points whereas contribution of Reliance industries (up 2.1%) was 11.3 points. Therefore, together the Reliance companies contributed nearly 24 points to the Sensex rise. Zee was another major mover, possibly due to short covering. Its rally of 7% pushed the markets up by 11.3 points.

The tech sector saw a lot of selling Satyam and Infy dragged the Sensex down by 6 points and 5 points respectively. The expectations of a good results from NIIT pushed the stock up by 2%. This resulted in 2.7 points gain for the Sensex.

To find out an estimate of the contribution each of these stocks made to the gain in the Sensex, check out our Sensitivity analyser.

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