NTPC, ONGC to form a joint venture company to promote renewable and new energy
The JVC has been formed through their Green Energy Subsidiaries – NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.
Domestic markets traded higher during the intraday-day trade on Monday, tracking gains in index majors Sun Pharma, ONGC, Bharti Airtel and HUL amid persistent foreign fund inflow.
After hitting record intra-day high of 45,291.56, the S&P BSE Sensex 104.47 points or 0.23 per cent higher at 45,184.02 levels while the broader NSE Nifty rose 124.65 points or 0.95 per cent up at 13,258.55. Nifty touched its intra-day peak of 13,280.05 in early trade.
Gainers on the Sensex were led by Sun Pharma, rising 2.49 per cent, followed by ONGC, Bharti Airtel, IndusInd Bank, HUL, ITC, NTPC AND ICICI Bank.
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On the other hand, HDFC Bank, Kotak Mahindra, Nestle, Bajaj Auto, Titan, M&M, TCS and Bajaj Finserv were among the laggards.
In the previous session, Sensex ended 446.90 points or 1 per cent higher at 45,079.55, while Nifty finished 124.65 points or 0.95 per cent higher at 13,258.55 — its record closing high.
Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,969.59 crore on a net basis on Friday, according to provisional exchange data.
The Reserve Bank’s commitment to ensure a broad-based growth by maintaining a dovish tone continued to bode well for equities, said Binod Modi Head-Strategy at Reliance Securities.
Further, positive progress on COVID-19 vaccination and increased visibility of fiscal stimulus in the US may continue to attract FPIs into emerging markets including India, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading in the red in mid-session deals.
Meanwhile, the global oil benchmark Brent crude futures were trading 0.41 per cent lower at USD 49.05 per barrel.
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