Indian indices rose on Friday, riding on gains in financials and index heavyweight Reliance shares after the oil-to-telecoms conglomerate said it had become net-debt free, taking some focus away from rising coronavirus infections and border tensions with China.

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The Sensex ended 523 points higher at 34,732, while the Nifty50 rose 153 points to settle at 10,244. Both indices finished the week on a positive note.

Shares of Reliance Industries rose over 6 percent to a record high and its market cap crossed Rs 11 lakh crore on the company’s announcement of being net debt free after raising over Rs 1.69 lakh crore ($22.15 billion) over the last few weeks via stake sales in its digital arm and a rights issue.

Bajaj Finerv, Bajaj Finance, Tata Motors, and Bharti Infratel were the other top gainers on the Nifty50 index, while IndusInd Bank, Vedanta, HCL Tech, M&M, and ITC led the losses.

Broader markets also jumped during the day with Nifty Midcap and Nifty Smallcap indices up 0.9 percent and 1.8 percent, respectively.

All sectors, except Nifty IT and Nifty Metal, also rose during the day. Nifty Realty surged the most, up over 6 percent, while Nifty Bank rose around 2 percent. Nifty Auto and Nifty Fin Services also added around 1.5 percent each. Meanwhike Nifty IT and Nifty Metal lost 0.35 percent and 0.06 percent, respectively.

First Published:Jun 19, 2020 3:34 PM IST