Sensex Tops 75,000, Nifty Hits Record; Media Soars, Pharma Dips

On April 10, 2024, the Indian stock market witnessed a continued surge as benchmark indices, Sensex and Nifty, extended their gains during the late trading session. The BSE Sensex gained 354.45 points or 0.47% to close at 75,038.15, while the NSE Nifty rose by 111.05 points or 0.49% to settle at 22,753.80.

One of the significant highlights of the day was the notable performance of Reliance Industries Limited (RIL) stock, which gained 1%. This surge came amidst reports from highly placed sources indicating that Tesla, the electric vehicle giant, is engaged in discussions with RIL for a potential joint venture aimed at establishing a manufacturing facility in India. This development sparked investor optimism, driving up RIL's stock price.

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However, amidst the market's upward trajectory, Reliance Infrastructure faced a significant setback as its stock price plummeted by 20%. This sharp decline followed a Supreme Court ruling stating that the Delhi Metro Rail Corporation (DMRC) was not obligated to pay ₹8,000 crore to the Delhi Airport Metro Express Private Ltd, a subsidiary of Reliance Infrastructure. The decision nullified a 2017 arbitral award, dealing a blow to the company's financial prospects and investor sentiment.

Overall, the stock market on April 10, 2024, witnessed a mix of positive and negative movements, with investors closely monitoring developments related to key players like RIL and Reliance Infrastructure. The ongoing discussions between Tesla and RIL for a potential partnership added a layer of excitement to the market, while the Supreme Court ruling had a contrasting impact on Reliance Infrastructure's stock performance.

Investors remained vigilant and responsive to these developments, with the day's trading session reflecting the dynamic nature of the stock market. As market participants digested the latest news and updates, analysts and traders closely tracked the movements of Sensex, Nifty, BSE, NSE, and share prices to navigate the evolving market landscape.

In conclusion, April 10, 2024, marked a day of significant activity and volatility in the Indian stock markets, characterized by notable gains, losses, and market-moving developments.

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