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MARKET WRAP: Sensex settles at record closing high of 37,888; RIL up 2.85%

Market heavyweight RIL ended the day at Rs 1,217.25 on the BSE, rising 2.85 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.

SI Reporter  |  New Delhi 

Markets, Stocks
Markets, Stocks

Nifty PSU Bank index ends 0.89% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) BANK OF BARODA 148.60 146.15 2.45 1.68 ST BK OF INDIA 308.70 304.05 4.65 1.53 IDBI BANK 62.25 61.90 0.35 0.57 Nifty sectoral gainers of the day BSE Sensex: ONGC, RIL, ICICI Bank, SBI among top gainers of the day Markets at close The S&P BSE Sensex settled at a record high of 37,888, up 222 points, while the broader Nifty 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95. Lupin slips 5% as Q1 profit misses Street's estimate Shares of Lupin have slipped 5% to Rs 821 per share on the BSE in intra-day trade after the company reported 43% year-on-year drop in consolidated net profit of Rs 2.03 billion in June quarter (Q1FY19), hit by fall in sales in the US and Japan. The pharmaceutical company had profit of Rs 3.58 billion in year ago quarter. READ MORE Investing in gold? Rising dollar to dampen your short-term return A rising dollar is set to limit the return on gold investment in the near-term, despite geopolitical tensions rising abroad. With the US Federal Reserve expected to raise interest rates again next month, the dollar might continue to fetch better returns than other asset classes, including gold and silver, in the near-term. READ MORE

The benchmark indices settled at new record closing highs on Wednesday led by a rise in the shares of financial stocks and Reliance Industries (RIL).

The BSE settled at a record high of 37,888, up 222 points, while the broader 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the BSE hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95.

Market heavyweight RIL ended the day at Rs 1,217.25 on the BSE, rising 2.85 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.

Among sectoral indices, the PSU Bank ended nearly 1 per cent higher led by State Bank of India and Bank of baroda.

Global Markets

Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong US earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, led by Taiwan, while Japan's Nikkei ticked down 0.1 per cent.

Oil Prices

Oil prices held steady on Wednesday, supported by a report of rising US crude inventories as well as the introduction of sanctions against Iran.

Front-month US West Texas Intermediate (WTI) crude futures were at $69.28 per barrel, up 11 cents from their last settlement. Brent crude oil futures were at $74.61 per barrel, down 4 cents from their last close.

(With inputs from Reuters)

First Published: Wed, August 08 2018. 08:12 IST
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MARKET WRAP: Sensex settles at record closing high of 37,888; RIL up 2.85%

Market heavyweight RIL ended the day at Rs 1,217.25 on the BSE, rising 2.85 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.

The benchmark indices settled at new record closing highs on Wednesday led by a rise in the shares of financial stocks and Reliance Industries (RIL).

The BSE settled at a record high of 37,888, up 222 points, while the broader 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the BSE hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95.

Market heavyweight RIL ended the day at Rs 1,217.25 on the BSE, rising 2.85 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.

Among sectoral indices, the PSU Bank ended nearly 1 per cent higher led by State Bank of India and Bank of baroda.

Global Markets

Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong US earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, led by Taiwan, while Japan's Nikkei ticked down 0.1 per cent.

Oil Prices

Oil prices held steady on Wednesday, supported by a report of rising US crude inventories as well as the introduction of sanctions against Iran.

Front-month US West Texas Intermediate (WTI) crude futures were at $69.28 per barrel, up 11 cents from their last settlement. Brent crude oil futures were at $74.61 per barrel, down 4 cents from their last close.

(With inputs from Reuters)

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