Sensex climbs over 450 points, Nifty ends above 17,500 led by Reliance

Indian equity benchmarks rose on Thursday as November futures and options contracts expired, led by gains in index heavyweights such as Reliance Industries, Infosys, Kotak Mahindra Bank, HDFC Bank, ITC, Bharti Airtel and Tech Mahindra. The benchmark opened lower, but soon the Sensex rose as much as 758 points from the day’s low and the Nifty 50 reclaimed its crucial psychological level of 17,500 after hitting an intraday low of 17,351.

The Sensex closed 454 points higher at 58,795 and the Nifty 50 index rose 121 points to 17,536.

Vijay said, “If Nifty is able to stay above 17,500, then it can move towards 17,600-17,700 levels. Momentum indicators like Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicate positive momentum in the market. giving.” Dhanotia, Head of Technical Research at Capital Via Global Research.

Reliance Industries was the top Nifty topper, with the stock rising over 6 per cent to hit a high of Rs 2,502 after its board decided to implement a plan of arrangement to transfer the gasification undertaking to a wholly owned subsidiary. Shares of Reliance were bullish on the Sensex, rising over 400 points, BSE data shows.

Divi’s Labs, Infosys, ITC, Dr Reddy’s Labs, UPL, Tech Mahindra, HCL Technologies, HCL Technologies, Tata Consumer Products, Cipla and Kotak Mahindra Bank also rose between 0.5-1 per cent each.

On the flipside, Hindalco, IndusInd Bank, Axis Bank, Shree Cements, Tata Steel, Mahindra & Mahindra, Bajaj Finance, Eicher Motors, Bharat Petroleum, Bajaj Auto, Larsen & Toubro and Coal India were among the losers.

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