The BSE Sensex soared over 400 points to hit its record high after Reliance Industries (RIL) reclaimed USD 100 billion...

The BSE Sensex soared over 400 points to hit its record high after Reliance Industries (RIL) reclaimed USD 100 billion (approx Rs 6,86,604 crore) market capitalization as its shares a hit 52-week high today. RIL, HDFC, and HDFC Bank collectively contributed nearly 300 points to the gains on Sensex. At 1200 hrs, the 30-share index rallied 413.89 points, or 1.14 percent, higher to 36,679.82, surpassing its previous high of 36,444 recorded on January 29, 2018.

Reliance Industries reclaimed USD 100 billion market capitalization

The broader Nifty-50 index is also trading above the key 11,000-level at 11,071.50, a gain of 123.20 points, or 1.13 percent. Heavy buying was seen on banking, pharma and metals counters. Top gainers were Reliance Industries (up 5.18 percent), Yes Bank (4.43 percent), L&T (1.98 percent), SBI (1.89 percent), HUL (1.88 percent), HDFC (1.73 percent) and HDFC Bank (1.35 percent). Following the uptick in the RIL counter, the market capitalization of the company touched Rs 6,88,513.11 crore.

Notable losers were Infosys and M&M

Profit-booking has witnessed IT, tech and telecom counters. Notable losers were Infosys (down 1.58 percent) and M&M (1.46 percent). Sentiments were firm on higher Asian cues ahead of domestic inflation and industrial production number to be released today. Asian markets are trading higher, despite lingering concerns around the US-China trade war that show little sign of abating. US stocks fell yesterday after Trump administration announced new tariffs on Chinese goods, further escalating tensions between the two largest economies in the world.