The Bombay Stock Exchange (BSE) Sensex index rose 1.2% to 58,419 as of 10:00 AM IST, outperforming the Nifty 50’s 0.9% gain, driven by a 3.5% surge in Reliance Industries Ltd.’s (RELIANCE) stock price.
This comes on the back of a 12.6% year-to-date increase in e-commerce sales, which surpassed $150 billion annually for the first time in India’s history, according to a report by Bloomberg-compiled consensus.
Market Move
The rally in Reliance Industries Ltd.’s (RELIANCE) stock price has been largely driven by the company’s increasing dominance in the Indian e-commerce market, with its JioMart platform contributing significantly to the growth.
“Reliance Industries’ e-commerce sales have grown 25% quarter-over-quarter, outperforming the broader market,
