Indian shares rose for a fourth successive session on Tuesday, boosted by Reliance Industries Ltd after Goldman Sachs reportedly raised its target price on the stock by 26% to Rs. 1,205 and gave the stock a ‘buy’ rating.
The BSE Sensex closed higher by 118.45 points to 33,478.35, whereas the NSE Nifty 50 rose 28.15 points to close at 10,326.90. The BSE Mid Cap finished up by 0.1 percent while the Small Cap finished up by 0.4 percent. Gains were mainly seen on the back of strong pharma index, energy and consumer durables sector. Dr Reddy’s Lab led the Pharma sector, gaining over 5 percent. Meanwhile, shares of Coal India, ITC and Power Grid fell 1.51%, 1.08% and 1.03%, respectively.
Shares prices of HDFC Standard Life have spiked about 50% from its Initial Public Offer price in just three days of listing on the stock market. The stocks had jumped 44.44 percent to the record high of Rs. 418.9 from the issue price of Rs 290, which ended 8.88 percent higher at Rs 386.9 on NSE today.