Sensex, Nifty Post Third Weekly Advance In Four
How Did The Markets Fare This Week
RIL's Market Cap Crosses Rs 11 Lakh Crore
Reliance Industries Ltd., owned by billionaire Mukesh Ambani, has become the first Indian company to cross Rs 11 lakh crore in market capitalisation.
Reliance Industries Leads The Gains...By A Distance
Closing Bell: Second Day Of Gains
Indian equity markets continued its strong momentum from Thursday's trading session to end higher for the second straight day.
This is the first time in 12 trading sessions where benchmark indices have either advanced or declined for successive days.
The S&P BSE Sensex ended 1.53% higher at 34,731 while the NSE Nifty 50 index added 1.51% or 153 points to its gains to end at 10,244.
Both benchmark indices have ended at their highest level since March 11 this year.
Among the sectoral indices, The Nifty Realty Index ended as the top performer, gaining 6.4%. The Nifty Bank, Nifty Media and Nifty Auto Index ended with gains of over 1.5% each.
Nifty I.T. and Nifty Metal were the only two sectoral laggards.
Market breadth remained in favour of the advances with 1,240 stocks on the NSE ending with gains while 565 reported losses.
The Sensex and Nifty also posted a weekly advance for the third time in the last four weeks. For the week, the Nifty gained 2.72% while the Sensex posted gains of 2.81%.
Stock Update: JK Cement
- Second best performer on the Nifty Smallcap Index
- Gains as much as 10.4% to Rs 1,374
- Biggest single-day gain since January 2016
- Trades at the highest level in three months
- Up for the third straight day
- Has gained 17% in the last three trading sessions
- Today's volumes are 3.5 times higher than its 30-day average
- Stock trades in overbought territory with Relative Strength Index (RSI) at 74
- Has gained 72.7% from its 52-week low of Rs 795 on March 23, 2020
- 26 out of the 27 analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential of the stock as per Bloomberg data is 2.2%