MUMBAI: Led by gains in shares of index heavyweight Reliance Industries Limited (RIL), Indian stock markets ended higher on Wednesday despite the relentless rise in the number of covid-19 cases in the country and global recession fears looming large.
The BSE Sensex ended at 31,379.55, up 742.84 points or 2.4% while the 50-share index Nifty closed the day at 9,187.30, up 205.85 points or 2.3%.
Equity markets in Japan, China and Korea had a mixed day. According to analysts, the 10% jump in the RIL stock contributed to around 50% of the gains on benchmark indices.
The up-move, however, may not be sustain for long as worries about losses in businesses due to disruption caused by nationwide lockdown will persist. “Today’s surge was largely in