Reliance Industries logo

RELIANCE - Reliance Industries News Story

₹1982.05 -23.3  -1.2%

Last Trade - 09/04/21

Sector
Energy
Size
Large Cap
Market Cap £122.69bn
Enterprise Value £137.27bn
Revenue £46.02bn
Position in Universe 1st / 3106

Indian shares end higher as Reliance surges on airwaves purchase

Wed 3rd March, 2021 10:34am
BENGALURU, March 3 (Reuters) - Indian shares ended sharply
higher on Wednesday as heavyweight Reliance Industries jumped on
winning $8 billion worth of airwaves in a spectrum auction,
while retreating U.S. bond yields also aided investor sentiment.
    The NSE Nifty 50 index  .NSEI  ended 2.19% higher at
15,245.60, while the S&P BSE Sensex  .BSESN  closed 2.28% higher
at 51,444.65.
    Indian equities are up nearly 5% so far this week, following
an expansion of the country's COVID-19 vaccination drive and
upbeat domestic economic growth, while easing U.S. bond yields
have lent support.
    Investor mood across the globe was also positive with MSCI's
broadest index of Asia-Pacific shares outside Japan
 .MIAPJ0000PUS  adding 1.7% and the Euro STOXX 600  .STOXX 
rising 0.7%.  MKTS/GLOB 
    In India, Reliance Industries  RELI.NS  surged 4.6% to an
over four-month high, the top boost to the Nifty, as the
conglomerate's telecoms unit picked up 488.35 megahertz (Mhz) of
telecom airwaves in a $10.6-billion spectrum auction.
 urn:newsml:reuters.com:*:nL2N2L010W 
    Financial stocks rallied, with Nifty's PSU bank  .NIFTYPSU 
and private bank index  .NIFPVTBNK  closing up 3.16% and 2.75%,
respectively.
    The Nifty Metal index  .NIFTYMET  advanced the most among
sectoral indexes, closing up 3.34%, at its highest in three
years. 
    Infosys  INFY.NS  closed up nearly 3%, its highest in more
than four weeks, after a media report said the IT services firm
had won a $500 million deal from Alphabet Inc's  GOOGL.O 
Google.  urn:newsml:reuters.com:*:nFWN2L10BL
    The Nifty Auto index  .NIFTYAUTO  was the only sub-index to
close in the red, slipping 0.66% after a 3.19% gain in the
previous session. 
    Meanwhile, the Indian government late on Tuesday said there
were plenty of COVID-19 vaccines for the country even though it
has sent quantities abroad.  urn:newsml:reuters.com:*:nL3N2L03OY

 (Reporting by Chandini Monnappa in Bengaluru; Editing by
Ramakrishnan M.)
 ((Chandini.M@thomsonreuters.com; +918061822697;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.