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Monday, Dec 16, 2019

Sensex rallies over 300 points to hit record peak; RIL jumps 4 %

After hitting a high of 40,816.38, the 30-share index was trading 321.20 points, or 0.79 per cent, higher at 40,790.90.

business Updated: Nov 20, 2019 11:31 IST
Press Trust of India
Press Trust of India
Mumbai
Shares of Reliance Industries (RIL) rallied nearly 4 per cent to hit their lifetime high of Rs 1,571 (intra-day), inching closer to the Rs 10 lakh crore market-capitalisation level.
Shares of Reliance Industries (RIL) rallied nearly 4 per cent to hit their lifetime high of Rs 1,571 (intra-day), inching closer to the Rs 10 lakh crore market-capitalisation level.(Reuters File Photo )
         

Equity benchmark BSE Sensex rallied over 300 points to hit its lifetime high on Wednesday, enthused by gains in Reliance Industries which also scaled a fresh peak in morning session.

After hitting a high of 40,816.38, the 30-share index was trading 321.20 points, or 0.79 per cent, higher at 40,790.90.

Similarly, the broader Nifty reclaimed the 12,000 mark. It was quoting at 87.25 points, or 0.73 per cent, up at 12,027.35.

Shares of Reliance Industries (RIL) rallied nearly 4 per cent to hit their lifetime high of Rs 1,571.85 (intra-day), inching closer to the Rs 10 lakh crore market-capitalisation level, after the company’s telecom arm, Reliance Jio, announced tariff hikes in the next few weeks in compliance with rules, as it followed similar announcements by Bharti Airtel and Vodafone Idea.

Other gainers in the Sensex pack included IndusInd Bank, Sun Pharma, Bharti Airtel, L&T, Asian Paints, Yes Bank and Maruti.

Meanwhile, Bajaj Auto, Kotak Bank, NTPC, HCL Tech, SBI and Hero MotoCorp were trading in the negative terrain.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading in the red after US President Donald Trump on Tuesday warned that failure to get a trade deal with China will prompt more tariffs.

On the currency front, the rupee appreciated marginally against the US dollar to trade at 71.69 in morning session.

Brent futures, the global oil benchmark, fell 0.31 per cent to USD 60.72 per barrel.