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Sensex, Nifty rise on boost from Reliance


Nifty rose 0.58% to 10,146.75, while Sensex was up 0.51% at 34,387.71.

Shares of Reliance Industries Ltd rose 0.85% in early trade to a record high. (File photo: Reuters)

Indian shares rose on Friday and were on course to finish the week higher, boosted by a jump in Reliance shares after the oil-to-telecoms conglomerate said it had become net-debt free.

The NSE Nifty 50 index rose 0.58% to 10,146.75 by 0349 GMT, while the benchmark S&P BSE Sensex was up 0.51% at 34,387.71.

Shares of Reliance Industries Ltd rose 0.85% in early trade to a record high after the company said it had become net debt free after raising over 1.69 trillion rupees ($22.15 billion) over the last few weeks through stake sales in its digital arm and a rights issue.

Meanwhile, broader Asian shares were choppy, with MSCI’s broadest index of Asia-Pacific shares outside Japan easing 0.06% as worries over spike in Covid-19 cases dampened expectations of a speedy economic recovery.

As of Thursday, Covid-19 cases in India had neared 367,000 and deaths were over 12,200.

IndiaToday.in has plenty of useful resources that can help you better understand the coronavirus pandemic and protect yourself. Read our comprehensive guide (with information on how the virus spreads, precautions and symptoms), watch an expert debunk myths, and access our dedicated coronavirus page.
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