Sensex gains 348 pts, Nifty ends at 10,096; RIL up 4% ahead of Q2 earnings

All that happened in Thursday's trade

Stock markets
In a choppy trade, the benchmark indices extended gains in last leg of trade after index heavyweight Reliance Industries (RIL) hit its record high ahead of its September quarter earnings due on Friday post market hours. A strong rally in Hindalco, Bharti Infratel, Sun Pharma and Tata Consultancy Services also contributed to the gains.   

TCS is scheduled to report its Q2 numbers later in the day. The stock settled at Rs 2,547, up nearly 2% on the BSE.  

Meanwhile, investors also await macroeconomic data such as consumer price index (CPI)-based inflation for September and Index of Industrial Production (IIP) for August due later in the day. Consumer inflation is forecast to have risen to 3.6% in September, above August’s 3.36%, according to a Reuters poll.

Overseas, European shares traded sideways in early deals despite new highs in Asia and on Wall Street, with financial shares being the biggest burden.