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The 30-share BSE index rose 524 points or 1.53 percent to close at 34,732; While the broader NSE Nifty rose 153 points or 1.51 percent to close at 10,244.
Reliance Industries, Bajaj Finance, Power Grid, ICICI Bank, Maruti, Axis Bank and ONGC were the biggest gainers in the Sensex with 6.51 per cent.
While IndusInd Bank, Mahindra & Mahindra, HCL Tech, ITC, HDFC and Infosys fell by 2.22 per cent.
On the NSE, sub-indices Nifty Realty, PSU Bank and Media rose by 6.40 percent.
According to analysts, in addition to stock-specific actions, positive signals from global markets and new foreign funds influenced market sentiment.
Shares of Reliance Industries rose 6.51 percent to Rs 1,764. The company’s overall market valuation crossed the Rs 11 lakh crore mark, after announcing that RIL had raised Rs 1.69 lakh crore ($ 22.15 billion) in the last few weeks through the sale of its digital arm and rights stake. The net debt of excess has become free. Issue.
However, there are widespread concerns about India’s economic growth, which is already in multi-year upswing and is facing further challenges from the growing cases of COVID-19 at home and abroad.
Ajay Bodke, Chief Executive Officer and Chief Portfolio Manager (PMS), “If the earnings growth in the second half of fiscal year 2020-21 does not hold up to V-shaped recovery expectations, the market may not improve.” Prabhudas Liladhar told the news agency Reuters.
“The market is being carefully cauterized, ignoring the geopolitical risks and being wildly optimistic about the sharp rise,” Bodke said.
On the currency front, the rupee depreciated 6 paise to 76.20 (provisional) against the US dollar, based on the strength of the US dollar and investor perception in COVID-19 cases.
Meanwhile, foreign institutional investors bought equities worth Rs 366.57 crore on a net basis in the capital market on Thursday, the provisional exchange showed.
(With agency inputs)
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