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Sensex rallies 400 pts to hit record high; RIL shares surge 5%

Press Trust of India  |  Mumbai 

The soared over 400 points to hit its record high after (RIL) reclaimed USD 100 billion (approx Rs 6,86,604 crore) market capitalisation as its shares a hit 52-week high today.

RIL, HDFC and collectively contributed nearly 300 points to the gains on Sensex.

At 1200 hrs, the 30-share index rallied 413.89 points, or 1.14 per cent, higher to 36,679.82, surpassing its previous high of 36,444 recorded on January 29, 2018.

The broader Nifty-50 index is also trading above the key 11,000-level at 11,071.50, a gain of 123.20 points, or 1.13 per cent.

Heavy buying was seen on banking, pharma and metals counters.

Top gainers were (up 5.18 per cent), (4.43 per cent), (1.98 per cent), SBI (1.89 per cent), HUL (1.88 per cent), HDFC (1.73 per cent) and (1.35 per cent).

Following the uptick in the RIL counter, the market capitalisation of the company touched Rs 6,88,513.11 crore.

Profit-booking was witnessed IT, tech and telecom counters.

Notable losers were (down 1.58 per cent) and M&M (1.46 per cent).

Sentiments were firm on higher Asian cues ahead of domestic inflation and industrial production number to be released today.

Asian markets are trading higher, despite lingering concerns around the US-trade war that show little sign of abating.

US stocks fell yesterday after announced new tariffs on Chinese goods, further escalating tensions between the two largest economies in the world.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 12:25 IST