Benchmark stock index Nifty50 reached a record high of 11,253.90, on Friday led by gains is ITC, which beat expectations and posted a 10.07% jump in its net profit at Rs 2,819 crore on Thursday for the quarter ended June 30, 2018.
The BSE Sensex, which has been ending at record highs for three consecutive days, also crossed a lifetime high of 37,278.45, up almost 294 points.
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Among sectoral indices, the Nifty PSU Bank index moved over 1.5% higher led by rise in Punjab National Bank and Oriental Bank of Commerce. The Nifty Metal index too is up over 1% led by Hindalco Industries and Tata Steel.
Market heavyweight Reliance Industries’ (RIL) will announce its June quarter earnings after the market hours on Friday. Bank of Baroda, HCL Technologies and Welspun India are among the other key companies that are likely announce their June 2018 quarter earnings later today.