Share Market LIVE: Sensex surges back up, moves past 50,000, Nifty nears 14,800; ONGC soars 6%, L&T up 2%

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HomeMARKETSShare Market LIVE Sensex surges back up moves past 50000 Nifty nears 14800 ONGC soars 6% L&T up&nbsp2%

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Updated: February 23, 2021 1:01:07 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Broader markets were outperforming benchmarks on Tuesday. India VIX, the volatility gauge was down 3%.

Share Market Today, Share Market LiveRising bond yields, inflation worries across the globe, and the resurgence of coronavirus cases domestically are believed to be troubling the stock markets. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmarks were back in the groove on Tuesday as they surged higher after five days of losses. S&P BSE Sensex zoomed to regain the 50,000 mark while Nifty 50 was above 14,750. ONGC was the top Sensex gainer, jumping more than 6%. Dr Reddy’s and Reliance Industries were among the other gainers. Asian paints and Tech Mahindra were the top drags, falling more than 1% each. Broader markets were outperforming, India VIX was down 1.57%.

Mukesh Ambani’s Reliance Industries Ltd (RIL) expects to complete the re-organisation of its oil-to-chemical business by the second quarter of the coming financial year. On Monday RIL unveiled a plan which will see the O2C business becoming a wholly-owned subsidiary of RIL. The subsidiary will consist of all refining, marketing and petrochemical businesses. Both Sibur and BP JVs will be included in the hived-off subsidiary. The O2C business has also been given a loan of $25 billion by the parent RIL. The firm has said that the re-organisation will facilitate participation by strategic investors and marquee sector-focused investors. 

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