Sensex zooms over 500 points up, Nifty again tops 11,400

WION Web Team NEW DELHI Sep 10, 2020, 02.55 PM(IST)

File photo Photograph:( Reuters )

Story highlights

The S&P BSE Sensex gained 500 points to 38,700 levels and the Nifty50 index reclaimed the 11,400-mark.

Indian equity market benchmarks BSE Sensex and Nifty 50 extended gains and were trading over one per cent higher on Thursday. 

The S&P BSE Sensex gained 500 points to 38,700 levels and the Nifty50 index reclaimed the 11,400-mark.

Reliance Industries leaped 7 per cent on reports that the company is offering to sell roughly $20 billion worth of stake in its retail arm, Reliance Retail, to Amazon.

Market analysts believe that midcap and smallcap outperformance is likely to continue in the coming months. On the back of a rebound in COVID-19 cases globally and India-China border tension, markets are reeling under volatility. So far in September, the 30-share Sensex has lost 1.8 per cent. The BSE SmallCap index has fallen 0.77 per cent. The BSE MidCap index fell 2.6 per cent so far in September.

Meanwhile, Rupee settles higher at 73.46 per US dollar vs Wednesday's close of 73.53/$

(With inputs from agencies)