The Indian benchmark has closed the week on a high as both S&P BSE Sensex and NSE Nifty 50 closed over 1.5% higher on Friday. The gains in the Sensex were led by the shares of Reliance Industries Limited (RIL), which is now a net debt-free company.
The company had set itself a deadline of 31 March 2021 and has now achieved its target nine months earlier. The RIL share price soared as much as 6.48% to mark the end of Friday at Rs 1,764 per share. Also, as the RIL company became a net debt-free organisation, its market capitalisation breached the Rs 11 trillion mark.
The S&P BSE Sensex zoomed 1.53% or 524 points to close Friday at the 34,731.73 levels. Among the 30 stocks comprising the Sensex index, 19 closed in the positive territory while the remaining 11 ended in the red. The rise in the Sensex was induced by the shares of Bharti Airtel, Bajaj Finance, HDFC Bank, ICICI Bank, and RIL.
Also Read: Indian Benchmark Indices Close the Day Over 0.65% Higher
The S&P BSE SmallCap index added nearly 1.5% to wrap up Friday at the 12,277 levels. The S&P BSE MidCap index eloped almost 1.4% to end the trading hours of Friday at the 12,804 levels. Over this week, the S&P BSE Sensex has amassed nearly 3%.
The NSE Nifty 50 closed the week at 10,244.40 points. It expanded 1.5% or 153 points over Friday. Among the 50 stocks constituting the Nifty index, 33 of them ended the day in the green terrain, 16 of them tanked, and one was unchanged. India VIX, the volatility gauge, slipped 4.74% or 1.49 points to end Friday at 29.96 points.
All sectoral indices on the National Stock Exchange (NSE) were on the rising trend except the NSE Nifty Metal and NSE Nifty IT indices. The Nifty Realty index shot up more than 6% while the NSE Nifty IT dropped nearly 0.4%. Over this week, the NSE Nifty 50 shot up 2.7%, while the S&P BSE Sensex jumped almost 3%.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
