Shares of Reliance Industries and State Bank of India ended higher on Thursday, August 6, amid heavy trading activity. According to reports from The Economic Times, around 41.65 million shares of the two companies, worth ₹4,294 crore, changed hands across the BSE and NSE during the session. Both stocks outperformed the broader market, with the benchmark indices also ending the day on a higher note.
Reliance Industries shares rose as much as 3.53% to an intraday high of ₹1,325.2 before settling 3.52% higher at ₹1,325 apiece on the NSE. As reported by The Economic Times, a total of 23.37 million shares worth ₹2,653.01 crore were traded in the stock across the BSE and NSE during the day. The country's largest listed firm demonstrated strong investor interest with significant trading volumes.
SBI shares climbed 2.94% to an intraday high of ₹1,086.1 before ending the session 2.84% higher at ₹1,085 apiece. According to The Economic Times, during the day, 18.28 million shares worth ₹1,640.59 crore changed hands on the BSE and NSE. The banking major continues to trade at a lower valuation than both RIL and the benchmark Nifty50.
The benchmark indices also ended the day on a higher note on Thursday. As reported by The Economic Times, the NSE Nifty50 settled at 24,636, up 11.35 points, or 0.05%, while the BSE Sensex gained 373.76 points, or 0.48%, to close at 78,954.76. This positive market sentiment supported the rally in heavyweight stocks like RIL and SBI.
Both RIL and SBI are currently trading at lower valuations than the benchmark Nifty50. According to The Economic Times, at the current market price, RIL commands a price-to-earnings (P/E) ratio of 19.65, compared with the Nifty50's P/E of 20.91. SBI trades at an even lower valuation with a P/E ratio of 12.02, significantly below both RIL and the benchmark. In terms of returns, SBI has outperformed both RIL and the benchmark index, delivering a return of 10.18% for year-till-date, while RIL shares have declined 15.91% and the Nifty50 has fallen 5.78% over the same period.
