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Nifty breaches 9,300-mark, Sensex comes closer to 30,000-level

Market benchmark Nifty surged past the 9,300-level for the first time today, fuelled by a rally in Reliance Industries and other bluechips on upbeat earnings.

business Updated: Apr 25, 2017 15:53 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
BSE Sensex recovered on Tuesday after the the previous day's market crash. (PTI)

Indian shares surged on Tuesday with the Nifty crossing the life high 9,300-level while Sensex coming closer to the magic 30,000-mark, propelled by a rally in Reliance Industries and other bluechips after their robust earnings results for January-March.

The Nifty closed at a historic high of 9,306.60 while the Sensex ended at 29,943.24.

Positive Asian cues and a higher opening in European markets also added to the momentum.

The 50-share NSE Nifty soared 82.45 points, or 0.89%, to quote at its new lifetime high of 9,300.40. It broke the previous record of 9,273.90 reached on April 5.

The BSE 30-share Sensex was quoting at 29,926.96 at 1430 hrs, up 271.12 points, or 0.91%.

The rupee appreciating to 64.21 against the dollar (intra-day) at the forex market too boosted sentiments.

Shares of Reliance Industries surged 1.21 per cent to Rs 1,433.50 after the company yesterday reported a record fourth quarter net profit of Rs 8,046 crore.

Other major gainers that supported the key indices were M&M, Bharti Airtel, Hero MotoCorp, Asian Paints, Power Grid, ITC Ltd, HUL, ICICI Bank and HDFC Ltd, rising by up to 3.36%.

Globally, Japan’s Nikkei surged 1.90%, Hong Kong’s Hang Seng rose 1.31%, while Shanghai Composite Index gained 0.16%.

In Europe, London’s FTSE rose 0.22%, Paris CAC 40 gained 0.18% and Frankfurt’s DAX inched up 0.03% in early deals. (With inputs from PTI)

First Published: Apr 25, 2017 14:58 IST