Indian indices rose on Thursday led by gains in banking and IT stocks, however, losses in energy stocks and heavyweight RIL kept the indices from hitting record highs.
The Sensex ended 393 points higher at 52,699 while the Nifty rose 103 points to settle at 15,790. Broader markets however underperformed with the midcap index down 0.2 percent and smallcap index flat.
On the Nifty50 index, Infosys, TCS, Tech Mahindra, JSW Steel and L&T were the top gainers while RIL, Coal India, IOC, ONGC and Bharti Airtel led the losses.
Among sectors, The Nifty IT index rallied over 2.5 percent while the banking, fin services and metal sectors rose 0.5-1 percent each. Nifty Auto and Nifty FMCG also ended in the green. Meanwhile, Nifty Energy lost 1.5 percent, capping some gains and pharma and realty indices were also in the red.
Reliance Industries fell 2 percent after the 44th annual general meeting of the stock was held today.
"The highlight of the 44th RIL AGM is chairman Mukesh Ambani's announcement of the launch of a truly transformational clean energy ecosystem. The announcement of Rs 75,000 crore investment in the next 3 years in 4 Giga factories will mark a seismic shift in India's clean energy pursuit. The affirmation that RIL will make clean energy a truly global business is good news not only for the planet but for shareholders too. The announcement of an ultra-affordable smartphone jointly developed by RIL & Google to be launched in September has the potential to accelerate India's digitization drive. RIL's plan to substantially scale up clean energy & digital technology has the potential to transform RIL into a leading global company in sync with a sustainable planet," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Shyam Metalics & Energy and Sona Comstar, both made solid debuts on the bourses today. Shares of Shyam Metalics settled at Rs 375, a premium of 22.5 percent to the issue price of Rs 306 per share.
Sona BLW Precision Forgings (Sona Comstar) settled at Rs 362.85 per share, over 24.5 percent premium to its issue price of Rs 291 per share.
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(Edited by : Pranati Deva)
First Published: IST