November 30, 2021

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Sensex Soars 454 Points; Nifty Tops 17,500

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Indian shares ended Thursday’s session notably higher amid the expiry of monthly derivative contracts and a largely positive trend in global markets.

Optimism over near-term growth prospects also boosted sentiment after credit rating agency Moody’s said it expects India’s economic growth to rebound strongly in the next financial years.

Moody’s pegged GDP growth of 9.3 percent and 7.9 percent in fiscal year 2022 and fiscal 2023, respectively.

Separately, Foreign Secretary Harsh Vardhan Shringla said that India has set an ambitious target of USD 400 billion of exports for the year 2021-22.

The BSE Sensex ended the session up 454.10 points, or 0.78 percent, at 58,795.09, while the NSE Nifty index rose 121.20 points, or 0.70 percent, to settle at 17,536.25.

Reliance Industries’ shares jumped as much as 6.4 percent after the company said it would hive off its gasifier unit and induct investors in it.

Tata Consumer Products, Infosys, ITC and Divis Laboratories climbed 1-2 percent while Hindustan Unilever, IOC, IndusInd Bank, Britannia Industries and Maruti Suzuki India all fell over 1 percent.

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2021-11-25 05:55:25

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