A huge boom is being seen in the stock market on Friday. The Bombay Stock Exchange’s 30-share Sensex is trading over 1000 points higher, while the National Stock Exchange’s Nifty is also witnessing strong gains. Shares of Mukesh Ambani-led Reliance Industries Limited (Reliance Stock) are running at rocket speed amid this market boom.
The last trading day of the week on Friday saw the stock market open on a green note amid positive global cues. The BSE Sensex was up 1,045 points or 1.80 percent at 59,006 by 2.20 pm at press time. At the same time, the NSE Nifty was trading at 17,371.95, up 291.25 points or 1.71 percent.
Similar gains were seen in the Bank Nifty, which was trading up 701.10 points, or 1.76 per cent, at 40,611.25. Reliance shares up 4.50% Mukesh Ambani’s Reliance Industries Limited was trading as the top gainer till this time. Reliance stock rose 4.50 percent or Rs. 100.55 to Rs. was trading at 2,335.25. Apart from this, shares of BSE-listed ICICI Bank were trading in the green with an increase of 3.06 percent, Nestlé India shares of 2.39 percent, Tata Motors shares of 2.69 percent.
A news related to the group is believed to be behind the rise in Reliance shares. In fact, Reliance Industries, the country’s largest company by market capitalization, has begun the process of demerging its financial services business. An important meeting regarding this is to be held on May 2. It should be mentioned here that Reliance shares crossed the Rs 2300 mark after about 15 days.
The Sensex rose 584.79 points or 1.01 per cent to 58,544.88 and the Nifty opened 161.70 points or 0.95 per cent higher at 9.15 am on Friday. 17,242.40. As soon as the market opened, around 1532 stocks rose, while 439 stocks declined. And 148 shares were unchanged. Nifty opened above 17200.