Sensex increased by 199.32 points to close at 31642.70 while Nifty jumped by 52.45 points to settle at 9251.50. Today’s session marked considerable volatility as markets slumped initially. During the last hour of market closing, Sensex and Nifty gained.
Top Gainers: Sensex and Nifty
Today’s session saw volatility in the equity market with shares gaining minor profits.
Hindustan Unilever gained 4.31%, followed by Sun Pharma, Tech Mahindra, Dr Reddy’s and Reliance gaining 3.94%, 3.66%, 3.66% and 3.48% respectively. Other gainers from today’s session included Zee Entertainment Ltd, Britannia and Ultratech Cement increasing by more than 2%.
Vista Joins hands with Jio in its Vision of Digital India
Vista Equity Partners to invest around INR 11367 crores in Jio Platforms, RIL declared today. Vista’s stake would be 2.32% equity shares on a fully diluted basis. This investment will make Vista the largest investor after RIL and Facebook. Jio raised more than 60.596 crores from top technology investors in a matter of three weeks. Jio platform after this investment values INR 4.91 lakh crores with the business value of INR 5.16 lakh crores. This investment displays a world-class platform built by Jio to attract such huge companies that lead in Connectivity, Smart devices, IoT, AI, Data Analytics and Mixed Reality and Blockchain to invest. Jio platforms will help small merchants, micro-businesses and farmers go digital in India.
Jio’s a wholly-owned company of Reliance Industries Limited, providing connectivity platform to more than 388 million Jio users. Also, Jio is considered a next-generation technology building company bringing transformational changes in India and making its way as a technology leader in India.
Vista is known as a global leading investment company that focuses on software, technology and data. It has an experience of more than 20 years in investing, particularly in software companies with more than USD 57 billion investment commitments making Vista the 5th largest software company around the world.
Losers: Sensex and Nifty
NTPC lost 3.70% followed by M&M, Axis Bank and IndusInd Bank dropping 3.66%, 3.61% and 3.29% respectively. Other losers were JSW Steel, Power Grid and Maruti declining by nearly 2%.
Foreign Institutional Investors induced a net value of 1724.71 crores in the Indian Equity market. They bought shares of around 6091.97 crores and stocks valued 4367.26 crores sold.
Domestic Institutional Investors marked a low investment in today’s session as stocks of value 3416.61 crores bought as against intraday sell-off value of 4919.75 crores. It resulted in a take-out of 1503.14 crores of value from the Equity market.
The sudden drop of induced investment from Foreign as well as Domestic investors as compared to last session’s investment is due to the uncertainty in the economy with increasing cases of Coronavirus.