Indian stocks rose on Thursday, in search of profits for the second consecutive day, with investors buying shares across and as Reliance Industries hit a high note. The NSE Nifty 50 index rose 0.64% to 17,242.05, from 0347 GMT, while the S&P BSE Sensex rose 0.61% to 57,389.03. Both indicators have risen sharply in the previous session as shares of underperformed technology have recovered and Reliance Industries has improved.
On Thursday, all Nifty index indicators went up, Nifty cap index added 1.25% and mid-cap index rose 0.9%. Morgan Stanley increased his stock price to 3,253 rupees ($ 42.61) from 2,926 rupees.
IT service provider HCL Technologies and food and beverage company Nestle India, however, fell 0.3% and 1.5%, respectively, before reporting their quarterly results.
The price of RIL shares rose by more than 2 percent and reached a new record high of Rs 2,775 each in BSE on Thursday trading, which took the total market capitalization to Rs 18.76 lakh crore. The stock price of oil-to-telecom conglomerate has exceeded its previous high of Rs 2,731.50 each reached in October last year. MukeshAmbani’s Reliance Industries’ share price increased by 7.5 per cent in five days, by 12.18 per cent in one month, and 15.15 per cent so far in the year. Analysts say there was no bullet in the chart at the start of the meeting.
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