Sensex, Nifty at record high; RIL, HDFC Bank stocks fuel rally

25 July, 2017, 00:26 | Author: Darnell Patrick
  • Sensex Nifty open on a high on Monday Wipro Lupin early gainers

India's benchmark index Sensex hit a record high on Monday, led by blue-chip Reliance Industries after the petrochemicals-to-retail conglomerate reported a better-than- expected quarterly earnings and announced a low-priced, 4G-enabled phone.

The 50-share NSE Nifty advanced 24.05 points, or 0.24 percent, to scale lifetime high of 9,939.30. At the close, the benchmark 30-share index, BSE Sensex added 216.98 or 0.68% at 32,245.87 with 18 components posting rise.

Benchmark Nifty50 opened on a strong note and soon touched its all-time high at 9,942.80. Nifty, meanwhile, was incing closer to the 10,000 mark and was trading at 9,961, which is 46 points higher. RIL Chairman Mukesh Ambani also announced bonus shares in 1:1 for its shareholders.

BSE Mid-cap index closed higher by 0.27% at 15,226. The shares of Avenue Supermarts, the operator of D-Mart retail chain, gained 5.5 per cent after reporting that its Q1 net profit increased 47.7 per cent at Rs 174.7 crore as against Rs 118.4 crore in the same quarter previous year.


The Monday green was a direct result of International Monetary Fund's predictions of India's GDP growth at 7.2 per cent in 2017.

The rupee dropped by 11 paise to 64.43 against the United States dollars in Monday's opening session thanks to fresh demand from importers for U.S. currency.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 366.84 crore, while domestic institutional investors (DIIs) bought stocks worth Rs 668.87 crore.

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