Sensex hits new high- up by 300 points; Reliance Industries gains 3.5%

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A strong trend prevailed in the D-street as the benchmark S&P BSE Sensex hit fresh record high of 40754.49 on Wednesday morning trade lifted by buying in index heavyweights like Reliance Industries, Bharti Airtel, and ICICI Bank.

On the NSE, the Nifty50 was back above 12,000-mark at 12,014.

Reliance Industries also continued its uptrend and gained over 4% to Rs 1,571, also its fresh all-time high on the BSE. The company is closing on the landmark of being the first Indian company to touch the market capitalisation of Rs 10 trillion. At 9:42 am, the company had the m-cap of Rs 9.92 trillion, BSE data showed.

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Reliance Industries also issued a statement to the exchanges today, saying,”.. like other operators, we will also work with the Government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including appropriate increase in tariffs in next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments.”

Sectorally, indices showed mixed trends on NSE. Nifty FMCG index slipped the most, down 0.5%, followed by Nifty Financial Services index. On the other hand, Nifty Pharma index was the top performer, up 0.87%.

In the broader market, mid and small-cap indces were trading little changed. The S&P BSE mid-cap index was up 0.06%, while the S&P BSE small-cap index was up 0.01%.

Shares of Shree Cement advanced 4.15% to Rs 20,854.75 on the BSE on Wednesday after the company opened its Rs 3,000-crore qualified institutional placement (QIP) offer on Tuesday, fixing the floor price at Rs 19,806.46 per share.

(With agency inputs)

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