February 14, 2021 07:59 PM
Shares of high-weight Reliance Idnustries Ltd gained more than four per cent as the indices bounced back from a two-day loss. Positive signals in global markets also weighed on indices’ gains. As a result, the Sensex gained 222 points to settle at 51,532 on Thursday. The Nifty was up 67 points at 15,173. These closing levels are expected to be all-time high for the indices. Shares of consumer, IT, metal, pharma and private sector banks were supported by buying.
Shares of auto, financial, media, realty and public sector banks came under selling pressure. Intraday, the Sensex moved in the range of 435 points between 51,157 and 51,592. The Nifty traded in the range of 123 points between 15,065 and 15,188. The December Industrial Production (IIP) and January Retail Prices (CPI) economic figures, which reflect the performance of the economy, will be released today (Friday).
Reliance gains over 4%:
Shares of Reliance Idnustries Ltd, which has been losing ground for the past few days, rose on Thursday on the back of the Delhi High Court ruling in favor of Reliance Idnustries Ltd stake in Future Retail. The stock opened at Rs 1,980 on the BSE. The stock jumped 4.55 per cent intraday to touch an intraday high of Rs 2064 on buying support from the start of trading. The stock finally settled at Rs 2,056 with a gain of 4.13%.
Powell’s comments to global markets:
Jerome Powell, chairman of the US Federal Reserve, said the United States was ready to cut key interest rates further in the future if needed to boost the U.S. economy and create new jobs if needed. Powell’s comments have sent positive signals to global markets. Thursday is a holiday for Chinese, Japanese and South Korean markets in Asia.
More on the market:
- Hindalco gained 6% on the back of better Q3 results
- Root Mobile shares closed 20 per cent higher at Rs 1,527 intraday at the Upper Circuit.
- MRF shares fell seven per cent to settle at Rs 90,084 despite the December quarter results.
- ITC shares fell half a cent to close at Rs 227 on the back of the release of financial results.