With the Indian stock market’s benchmark Sensex soaring with a gain of over 1,000 points on Wednesday and foreign fund inflows resuming, shares of market heavyweight Reliance Industries Limited also climbed 2 per cent to reach a 52-week high of ₹1,571.60.
The surge took the total market valuation of the company to ₹21,24,259.89 crore at the close of trade on Wednesday.
“FII (Foreign Institutional Investor) buying returned on Tuesday, reinforcing bullish sentiment, while heavyweights including HDFC Bank, ICICI Bank and Reliance Industries added stability to the rally,” said Gaurav Garg, Research Analyst at Lemonn Markets Desk.
RIL stock went up by 1.99 per cent to settle at ₹1,569.75 on the BSE. During the day, the stock rallied 2.12 per cent to ₹1,571.80 – its 52-week high.
Also Read: Reliance, Airtel lead mcap surge of ₹1.28 lakh-cr
At the NSE, the firm’s shares edged higher by 1.96 per cent to ₹1,569.90. During the day, the stock reached its 52-week high of ₹1,571.60.
This is the second day of gains for Reliance Industries. On Tuesday, the company’s stock settled up 0.21 per cent on the BSE.
So far this year, the blue-chip stock has surged over 29 per cent, the rally in the stock being instrumental in driving equity markets higher.
On Wednesday, 30-share BSE Sensex jumped 1,022.50 points or 1.21 per cent to settle at 85,609.51. The 50-share NSE Nifty zoomed 320.50 points or 1.24 per cent to end at 26,205.30.
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