Business Standard

Sensex scales up 110 points, Reliance's market cap ends above Rs 10 lakh crore


Equity benchmark indices ended near the day's high level on Thursday led by a spurt in public sector banks and metal stocks.
The bull run continued despite concerns that US President Donald Trump signing law support for anti-government protesters in Hong Kong could become a sticking point in signing the US-China trade deal.
The BSE S & P Sensex closed 110 points higher at 41,130 while the Nifty 50 edged up by 54 points to 12,154. Except for Nifty auto, all sectoral indices at the National Stock Exchange were in the green.
Nifty PSU bank added gains of 3.44 per cent while Nifty metal moved up by 1.98 per cent.
Among stocks, Bharti Infratel jumped by 14.18 per cent to close the day at Rs 257.25 per share. Metal majors JSW Steel and Tata Steel gained by 4.1 per cent and 2.2 per cent respectively.
Banking stocks witnessed stellar buying with Yes Bank edging up by 3.1 per cent along with ICICI Bank and IndusInd Bank which rose by 2.5 per cent each. State Bank of India ticked up by 1.6 per cent.
Reports said index heavyweight Reliance Industries became the first Indian company to hit Rs 10 lakh crore market capitalisation after the stock price hit a new high to close at Rs 1,579.95 per share.
However, Zee Entertainment dropped by 2.5 per cent after three directors resigned from its board with two of them citing corporate governance issues. The development came two days after Chairman Subash Chandra stepped down.
The other losers were Hero MotoCorp, HDFC, Bajaj Auto and HDFC Bank.
Meanwhile, Asian share markets wobbled as concerns mounted that tensions over Hong Kong may worsen fractious relations between Washington and Beijing.
US President Donald Trump on Wednesday signed a legislation backing pro-democracy protesters in Hong Kong and China's Foreign Ministry promptly warned of unspecified firm counter measures in response.
As a result, Japan's Nikkei slipped by 0.12 per cent, Hong Kong's Hang Seng by 0.22 per cent and South Korea's Kospi by 0.43 per cent. The Shanghai Composite was down by 0.87 per cent.

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First Published: Nov 28 2019 | 4:29 PM IST

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