Rama Krishna Sangem
Indian businesses have heaved a sigh of relief. The ceasefire between Israel and Iran imposed by President Trump is holding for now. The fearful prospects of Iran closing down Strait of Hormuz are gone and the threat of nuclear warheads being fired to disappeared suddenly. All these things have lifted the mood of the stock markets.
The BSE Sensex climbed 1,000.36 points, or 1.21 per cent, to close at 83,755.87. The index traded in the range of 83,812.09 to 82,816.26 during the day.
The benchmark index reflected strong investor confidence, underpinned by the apparent stability of the Middle East ceasefire, which has eased concerns over potential supply chain disruptions. FIIs continued to pare holdings due to the narrowing yield spread between U.S. and Indian 10-year bonds; DIIs emerged as net buyers, buoyed by improving liquidity conditions and a rebound in domestic consumption.
Across the broader market, key sectors such as banking and auto posted notable gains, supported by easing domestic inflation concerns.Among the Sensex constituents, 22 out of 30 stocks settled higher, with gains led by Tata Steel, Adani Ports, Eternal, Bharti Airtel, Bajaj Finance, Bajaj Finserv and NTPC up over 2 per cent each. On the other hand, Tech Mahindra, Maruti Suzuki, Trent, and M&M settled lower.
NSE Nifty50 settled at 25,549.00, higher by 304.25 points or 1.21 per cent. The index hit a day’s high of 25,565.30, while the intra-day low was recorded at 25,259.90. Shriram Finance, Jio Financial Services, Tata Steel, Bharti Airtel, and Hindalco Industries were the top gainers among Nifty50 constituents, rising in the range of 2.48 to 3.69 per cent. Conversely, Dr Reddy’s Laboratories, Tech Mahindra, Wipro, State Bank of India (SBI), and Hero MotoCorp were the top laggards, ending lower in the range of 0.45 to 1.31 per cent.
Reliance market cap surges to Rs 20 lakh crore
Reliance Industries (RIL) shares climbed 2 per cent in trade on Thursday, logging an intraday high at ₹1,496.8 per share on BSE. The company’s market capitalisation surpassed the ₹20 trillion level once again after September 27, 2024.
At 2:09 PM, the company’s market capitalisation stood at ₹20,25,540.5 crore. RIL share price was trading 2.01 per cent higher at ₹1,496.8 per share on the BSE. In comparison, the BSE Sensex was up 1.03 per cent at 83,608.71. Its 52-week high was at ₹1,608.95 per share and 52-week low was at ₹1,115.55 per share. In one year, RIL shares have lost 4 per cent as compared to Sensex’s rise of 5 per cent.
Why are RIL shares in demand?
Reliance Industries chairman Mukesh Ambani, on Wednesday, said that the company is entering a new phase of growth powered by artificial intelligence and deep technology, calling it the group’s next major leap after telecom and energy, according to reports.
Ambani also revealed that the company has already built its 5G infrastructure completely in-house. On artificial intelligence, Ambani made it clear that Reliance will stay away from high-risk capital-heavy areas like GPUs, instead focus on downstream applications that align with national needs. One big feature of Reliance is that the group is in sync with the government policies and global trends. Every business decision made by the group leverages present conditions and catches up wit future developments.
