SENSEX trades 250 pts higher in early trade, NIFTY50 tops 24,500; Swiggy shares rise 3% post-Q2 results.
Domestic equity benchmark indices traded higher by fair gains in the early trade on Wednesday, December 4. At 9:34 AM, the S&P BSE SENSEX was trading at the levels of 81, 118.61 and up 273 points or 0.34 % whereas the broad NIFTY50 index was ruling at 24,538.15 and up 81 points or 0.33%.
HDFC Life, SBI Life, NTPC, Tech Mahindra, and BEL were the top gainers on the NIFTY50 index. Bharti Airtel, Cipla, RIL, Adani Enterprises, and Dr Reddy’s were the top losers.
Individual names, however, Swiggy shares were trading over 3% higher at Rs. 517.35 apiece on the BSE today, a day after the company announced its Q2 results. This comes as part of a larger market segment recovery, which is influenced by global cues and a resilience seen in retail and tech sectors.
This saw the stock jump as much as 6.69% to Rs.534.85 on the BSE. On a consolidated basis, loss narrowed for the company at Rs.625.53 crore in the quarter ended September, down from Rs.657 crore recorded in the year-ago period.
It reported its quarterly results to the stock exchanges for the first time since it went public last month.
Swiggy Reported on a regulatory filing that the board of the company had approved investment in equity shares of wholly owned subsidiary Scootsy Logistics in a sum not exceeding Rs.1,600 crore by subscribing to one or more right issues.
