Sensex rallies as Reliance Industries jumps 11.5% on Q2 earnings
Business
Big day for the Indian stock market: Sensex soared by 1,233.25 points to close at 75,692.78, and Nifty finished above 23,400.
The main reason? Reliance Industries posted strong second-quarter earnings, which sent its shares up by a huge 11.5%, their best jump since April 2020.
Reliance Industries market value ₹17L/cr
Global factors like lower US bond yields and cheaper oil prices added to the upbeat mood.
Reliance's market value shot past ₹17 lakh crore.
Sectors like energy and public sector banks saw solid gains (up to 4.6%), while over 100 stocks hit their yearly highs.
Even the rupee got a small boost against the dollar, closing at 94.90.