Sensex, Nifty close in green; Google to invest Rs 33,737 crore in RIL's Jio Platforms

Domestic benchmark indices erased the day's gains on Wednesday as the final hour of the trading session witnessed heavy selling in financial stocks and RIL. Sensex closed nearly flat at 36,051.81, registering a mere increase by 18.75 points or 0.05 per cent compared to its previous close. Nifty ended today's session at 10,618.20, up by 0.10 per cent or 10.85 points.

Global indices remained slightly mixed as concerns over increasing US-China tensions weighed on investor sentiments. US President Donald Trump informed of his signing legislation to impose sanctions on China in response to its interference with Hong Kong's autonomy and also signed an executive order ending Hong Kong's special status with the U.S. On the positive side, biotech firm Moderna's potential vaccine to prevent COVID-19 produced a robust immune response or neutralizing antibodies in all 45 patients in its early stage human trial. Asian indices such as Shanghai index dropped by 1.54 per cent whereas Hong Kong's Hang Seng index rallied by 0.014 per cent. KOSPI rose by 0.84 per cent and Japan's Nikkei index increased by 1.59 per cent. In the European markets, FTSE 100, Dax and CAC 40 increased by 1.15 per cent, 1.21 per cent and 1.54 per cent respectively.

In its Annual General Meeting (AGM) for FY20, Reliance Industries (RIL) announced that technology giant Google invested Rs 33,737 crore in RIL's telecom and digital arm, Jio Platforms, for a 7.7 per cent stake.

In the Sensex basket, 16 stocks advanced while 14 stocks declined. Shares of Infosys rallied by 6.16 per cent ahead of the company's announcement of its Q1FY21 results. Other Sensex gainers included HCL Technologies rising by 4.13 per cent, TCS increasing by 2.85 per cent, Tech Mahindra gaining by 2.78 per cent, Axis Bank up by 2.11 per cent, HUL rising by 1.85 per cent, etc. Sensex losers comprised Bharti Airtel dropping by 4.24 per cent, RIL decreasing by 3.71 per cent, ONGC dipping by 1.49 per cent, IndusInd bank declining by 1.49 per cent, Bajaj Finance falling by 1.33 per cent, SBI down by 1.21 per cent.

Amongst BSE sectoral indices, the biggest loser was Telecom index, down by 3.63 per cent whereas IT index was the biggest gainer, up by 4.89 per cent. At a broad level, BSE small-cap index fell by 0.05 per cent while BSE mid-cap index declined by 0.35 per cent.