RIL drives markets to best day in 2 months; Sensex rises 1,241 points
The benchmark indices recorded their biggest gain in nearly two months, driven by rallies in Reliance Industries Ltd (RIL) and HDFC Bank, the top two weighted stocks.
The Sensex surged 1,241 points, or 1.8 per cent, closing at 71,942, while the Nifty 50 ended at 21,738, rising 385 points, or 1.8 per cent — the biggest single-day gain for both indices since December 4. RIL and HDFC Bank contributed to over half of these gains. RIL shares rose amid reports that it would benefit from the Red Sea crisis due to higher refining margins. Reports suggested that India’s oil purchases from Russia, a major source for RIL, remained largely unaffected by the Red Sea situation.
