Sensex crosses 37,700 for first time, Nifty50 tops 11,350; RIL hits record high
Sensex and Nifty started on a positive note amid firm global cues on Wednesday. Sensex was trading 61.55 points higher at 37,668.13 at 9.55 am.
Sensex and Nifty started on a positive note amid firm global cues on Wednesday. Sensex was trading 61.55 points higher at 37,668.13 at 9.55 am. The benchmark index hit a new peak of 37711.87 in the opening deals. Nifty50 was trading 21 points up at 11,377.75, led by IOC, Hindalco, Lupin, BPCL, and Bajaj Auto. In the opening trade Tech Mahindra, RIL, Dr Reddy's, Hindustan Uniliver and Adani Ports performed well. RIL hit its fresh lifetime high of Rs 1,197 on the BSE.
The surge in stock price was due to an arbitration panel issuing an award in favour of Reliance-led consortium in the so-called gas migration dispute case. Metal, FMCG and PSU banks performed better than other indices in the Nifty PSU bank index.
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Asian shares traded higher in early trade, even as the reports suggested that Washington plans to raise tariffs on $200 billion of Chinese goods.