Stock market update: Nifty today broke out upwards after a sideways close for past three sessions
Indian stock market today closed at a four-month high, lifted by banking stocks and Reliance Industries. Cooling oil prices and strong buying from foreign investors lifted sentiment. The NSE Nifty 50 index rose 0.73% at 17,525 while BSE Sensex climbed over 400 points to 58,853. Mahindra & Mahindra was the biggest gainer from the Sensex pack, climbing 3%, followed by Bajaj Finserv, NTPC, Axis Bank, HDFC Bank, Larsen & Toubro, HDFC, Dr Reddy's, IndusInd Bank and Reliance Industries. Among the losers, SBI fell 2% after lower-than-expected earnings.