Sensex rises over 400 points, Nifty over 16,600 | Check top gaining shares
India Today
Nifty 50 index settled up 0.64 per cent or 105.25 points at 16,628 and the S&P BSE Sensex closed 0.79 per cent or 436.94 points higher at 55,818.11.
The Sensex and Nifty ended higher on Thursday on the back of gains in Reliance Industries and technology stocks, with investor sentiment getting a boost from a pullback in crude oil prices.
After struggling for direction for most of the session, the NSE Nifty 50 index settled up 0.64 per cent or 105.25 points at 16,628 and the S&P BSE Sensex closed 0.79 per cent or 436.94 points higher at 55,818.11.
Global peers were steady, with MSCI's benchmark for global stocks trading down 0.05 per cent as bets that Saudi Arabia may boost crude production helped balance concerns over surging inflation and monetary policy tightening.
Reliance Industries - India's most valuable company - led gains in Mumbai trading to add 3.5 per cent. The conglomerate said on Wednesday that Reliance Brands and Italy's Plastic Legno SPA have formed a venture to buy a 40 per cent stake in Plastic Legno SPA's toy manufacturing business in India
The rally in Reliance helped Nifty's Energy sub-index settle 2 per cent higher.
IT stocks advanced 1.8 per cent after two consecutive sessions of losses.
Sun Pharmaceutical Industries broke a losing streak that began after its quarterly results on May 30 to end 2.4 per cent higher and was among the top three gainers on the Nifty 50 index.
