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MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Mukesh Ambani-controlled Reliance Industries (RIL) on Thursday became the first company to cross Rs 8 trillion in terms of market capitalisation (market-cap), becoming the country's most valued firm.

SI Reporter  |  New Delhi 

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The benchmark indices ended broadly flat on Thursday amid weak Asian

The S&P BSE settled at a fresh record closing high of 38,337, up 51 points, while the broader 50 index closed at a new high of 11,583, up 12 points. In intra-day deals, the S&P BSE hit a new all-time high of 38,487.63. The Nifty50 index, on the other hand, touched its record high level of 11,620.70.

RIL's MARKET-CAP HITS RECORD

Mukesh Ambani-controlled Reliance Industries (RIL) on Thursday became the first company to cross Rs 8 trillion in terms of market capitalisation (market-cap), becoming the country's most valued firm. RIL's market capitalisation (m-cap) stood at Rs 8.04 trillion. In intra-day deals, the stock hit a new high of Rs 1,273.55, up over 1%, extending its gains over the past four trading days. The stock settled at Rs 1,269.70, up 1.86 per cent.

SECTORAL TREND

Shares of pharmaceutical companies extended their upward journey with the Pharma index hitting its 52-week high on the National Stock Exchange (NSE), on positive corporate announcements from Strides Pharma Science and Lupin.

Lupin, Cipla, Cadila Healthcare, Dr Reddy’s Laboratories, Aurobindo Pharma, Divi’s Laboratories, Sun Pharmaceutical Industries from the index were up in the range of 1% to 5% on the NSE. Of these Sun Pharma, Divi’s Laboratories and Cipla have hit their respective 52-week highs in intra-day trade.

LARSEN & TOUBRO UP ON BUYBACK PLANS

Shares of Larsen & Toubro (L&T) settled 2.30% higher at Rs 1,352.50 on the BSE after its board approved the proposal for buyback of equity shares of upto Rs 90 billion at a maximum price of Rs 1,500 per share.
 
“The board of directors of the Company at its meeting held today has approved a proposal to buyback up to 60 million equity shares of the Company being 4.29% of the total paid up equity share capital, at a maximum price of Rs 1,500 per share for an aggregate amount of Rs 90 billion,” L&T said in a statement.

GLOBAL MARKETS

Asian shares slipped on Thursday amid speculation President Donald Trump's political position could be threatened by the legal woes of two former advisers and as fresh US-took effect.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent. Hong Kong's Hang Seng index stumbled 0.6 per cent while Chinese shares see-sawed between positive and negative territory. The blue-chip index was last up 0.4 per cent. Elsewhere, Japan's Nikkei added 0.2 per cent.

(With Reuters inputs)

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Nifty sectoral gainers and losers of the day

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

BSE Sensex: L&T, RIL, NTPC among top gainers of the day

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Market at close The S&P BSE Sensex settled at a fresh record closing high of 38,337, up 51 points, while the broader Nifty 50 index closed at a new high of 11,583, up 12 points. In intra-day deals, the S&P BSE Sensex hit a new all-time high of 38,487.63. The Nifty50 index, on the other hand, touched its record high level of 11,620.70.

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

JB Chemicals surges 12% as board mulls share buyback proposal JB Chemicals & Pharmaceuticals has rallied 12% to Rs 338 on the BSE in intra-day trade after the company announced that its board will meet on August 31, 2018, to consider a share buyback proposal. READ MORE

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

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MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

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MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

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MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Top gainers in BSE 500: COMPANY PRICE() CHG() CHG(%) VOLUME J B CHEM & PHARM 330.50 27.15 8.95 144766 ZENSAR TECH. 1561.00 110.80 7.64 14684 ITI 93.15 6.55 7.56 301867 J KUMAR INFRA 235.00 14.75 6.70 37522 KAJARIA CERAMICS 487.95 30.30 6.62 333307 » More on Top Gainers

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Gold falls as US tariff fears, rate hike views buoy dollar Gold prices fell on Thursday, after hitting a one-week high in the previous session, as fears of another round of US tariffs on China and expectations of higher interest rates lifted the dollar. Spot gold was down 0.3 per cent at $1,191.62 an ounce. Prices hit their highest since Aug. 13 at $1,201.51 in the previous session, but failed to hold the psychological $1,200 level after recovering from 1-1/2 year lows touched last week. US gold futures were down 0.5 percent at $1,197.8. READ MORE

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 38,326.84 +41.09 +0.11   S&P BSE SENSEX 50 12,126.21 +16.36 +0.14   S&P BSE SENSEX Next 50 34,759.85 +125.06 +0.36   S&P BSE 100 11,883.73 +20.11 +0.17   S&P BSE Bharat 22 Index 3,665.26 -4.42 -0.12 (Source: BSE)

MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

STOCK ALERT RIL becomes first Indian company to cross Rs 8 trillion in market cap Reliance Industries on Tuesday became the first company to cross Rs 8 trillion in terms of market valuation, becoming the country's most valued firm. READ MORE Stock quote:

First Published: Thu, August 23 2018. 08:15 IST
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MARKET WRAP: Indices end at record high; RIL market-cap hits Rs 8 trillion

Mukesh Ambani-controlled Reliance Industries (RIL) on Thursday became the first company to cross Rs 8 trillion in terms of market capitalisation (market-cap), becoming the country's most valued firm.

The benchmark indices ended broadly flat on Thursday amid weak Asian

The S&P BSE settled at a fresh record closing high of 38,337, up 51 points, while the broader 50 index closed at a new high of 11,583, up 12 points. In intra-day deals, the S&P BSE hit a new all-time high of 38,487.63. The Nifty50 index, on the other hand, touched its record high level of 11,620.70.

RIL's MARKET-CAP HITS RECORD

Mukesh Ambani-controlled Reliance Industries (RIL) on Thursday became the first company to cross Rs 8 trillion in terms of market capitalisation (market-cap), becoming the country's most valued firm. RIL's market capitalisation (m-cap) stood at Rs 8.04 trillion. In intra-day deals, the stock hit a new high of Rs 1,273.55, up over 1%, extending its gains over the past four trading days. The stock settled at Rs 1,269.70, up 1.86 per cent.

SECTORAL TREND

Shares of pharmaceutical companies extended their upward journey with the Pharma index hitting its 52-week high on the National Stock Exchange (NSE), on positive corporate announcements from Strides Pharma Science and Lupin.

Lupin, Cipla, Cadila Healthcare, Dr Reddy’s Laboratories, Aurobindo Pharma, Divi’s Laboratories, Sun Pharmaceutical Industries from the index were up in the range of 1% to 5% on the NSE. Of these Sun Pharma, Divi’s Laboratories and Cipla have hit their respective 52-week highs in intra-day trade.

LARSEN & TOUBRO UP ON BUYBACK PLANS

Shares of Larsen & Toubro (L&T) settled 2.30% higher at Rs 1,352.50 on the BSE after its board approved the proposal for buyback of equity shares of upto Rs 90 billion at a maximum price of Rs 1,500 per share.
 
“The board of directors of the Company at its meeting held today has approved a proposal to buyback up to 60 million equity shares of the Company being 4.29% of the total paid up equity share capital, at a maximum price of Rs 1,500 per share for an aggregate amount of Rs 90 billion,” L&T said in a statement.

GLOBAL MARKETS

Asian shares slipped on Thursday amid speculation President Donald Trump's political position could be threatened by the legal woes of two former advisers and as fresh US-took effect.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent. Hong Kong's Hang Seng index stumbled 0.6 per cent while Chinese shares see-sawed between positive and negative territory. The blue-chip index was last up 0.4 per cent. Elsewhere, Japan's Nikkei added 0.2 per cent.

(With Reuters inputs)

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