Share market HIGHLIGHTS: The BSE Sensex continued its winning streak for the fourth consecutive day and ended Thursday’s trade 453.46 points or 1.27% higher at 36,170.41 points. The NSE Nifty 50 closed 129.85 points or 1.21% higher at 10,858.70 points. The benchmark indices continued to gain for the fourth consecutive session today on the back of positive global cues, coupled with an appreciating rupee on the back of sliding crude oil prices, and healthy buying in financials stocks. The rupee appreciated past the 70/$ mark for the first time today in over three-months.
Shares of Reliance Industries Ltd gained over 2% to a high of Rs 1,176.8 today. Notably, this was the highest level since October 17. Yes Bank shares staged a smart recovery and recovered nearly 13% from its day’s low at Rs 147 per share on the BSE. Shares of the private lender plunged to their lowest in more than two years on Thursday after credit rating agencies ICRA and CARE Ratings downgraded ratings on the lender’s debt instruments. Jet Airways shares jumped nearly 3% to a high of Rs 317.90 per share on the BSE today after the airline clarified that reports of Naresh Goyal’s exit and the increase in share price of the company were speculative in nature.
Asian stocks advanced on Thursday, tracking a surge on Wall Street, after the chairman of the U.S. Federal Reserve suggested it may nearing an end to its three-year rate tightening cycle, boosting interest in riskier assets, said a Reuters report. European shares joined the rally on Wall Street after dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards stock markets despite uncertainty over a possible escalation in the U.S./China trade dispute.