Sensex jumps 1,233 points as Reliance soars 11.6% on record profit and crude prices cool
The Sensex closed at 75,692.78 and the Nifty at 23,440.80, both at the day's high, in a third straight day of gains.
Stock markets ended sharply higher on Monday. The 30-share BSE Sensex rose 1,233.25 points, or 1.66%, to settle at the day's high of 75,692.78, while the 50-share NSE Nifty gained 387.70 points, or 1.68%, to close at 23,440.80. It was the third straight day of gains.
Reliance Industries surged 11.64% after reporting a record quarterly profit of Rs 29,550 crore for July–September, up 33.8% from a year earlier, as its oil-to-chemicals business gained from strong fuel margins. Tata Steel, UltraTech Cement, SBI, NTPC and Maruti Suzuki also rose, while Infosys, Kotak Mahindra Bank, ICICI Bank and Sun Pharma lagged.
Brent crude fell 4.46% to $108.7 a barrel. Foreign institutional investors bought shares worth Rs 3,598.54 crore on Friday, exchange data showed.
Analysts credited better-than-expected September-quarter earnings, healthy festive vehicle sales and strong GST collections for the rally.
Source: Deccan Herald. Photo: File photo — Niyantha Shekhar / Wikimedia Commons, CC BY 2.0.
