Nifty breaches 9,300-mark for the first time, Sensex inches closer to 30,000-level

New Delhi: The Benchmark BSE Sensex zoomed over 287 points while the Nifty breached the 9,300-mark for the first time Tuesday on persistent buying supported by strong results and upbeat global cues.

The Sensex resumed higher at 29,825.14 and firmed up further to 29,961.82 before ending at 29,943.24, showing a gain of 287.40 points or 0.97 percent. This is the highest closing for Sensex since April 5, when it had ended on 29,974.24.

The Nifty rose to its record high level of 9,309.20 before settling at 9,306.60, showing a gain of 88.65 points of 0.96 percent.

A string of strong quarterly earnings, including from index heavyweight RIL, and appreciating rupee accelerated buying activity. The rupee ended at 64.26 against the dollar, up 18 paise.

 

Shares of Reliance Industries ended over 1 percent higher and hit a nine-year high today, adding Rs 5,242 crore to its market valuation, after the company reported a record fourth quarter net profit of Rs 8,046 crore. The stock gained 1.14 percent to end at Rs 1,432.50 on BSE. During the day, it jumped 3.43 percent to Rs 1,465 -- its multi-year high.

At NSE, shares of the company rose by 1 percent to close at Rs 1,432.80. Led by the gain in the stock, the company's market valuation went up by Rs 5,242.44 crore to Rs 4,65,753.44 crore -- the maximum for any listed company in the country.

The market breadth remained positive as 1,467 stocks ended higher, 1,444 closed lower while 169 ruled steady. The total turnover on BSE amounted to Rs 4,006.89 crore, lower than Rs 4,360.76 crore registered during the previous trading session.

Overseas, Asian shares gained following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election.

US stocks rallied yesterday as concerns over France's potential exit from the euro currency bloc eased. The Dow Jones Industrial Average jumped 216.13 points to close at 20,763.89. The S&P 500 surged 25.46 points to 2,374.15.

Meanwhile, foreign funds net sold shares worth Rs 279.55 crore while domestic funds bought shares worth net Rs 984.17 crore yesterday as per the provisional figures issued by stock exchanges.

With Agency Inputs