Sensex closes at the new high of 38,336.76; Reliance Industries surpasses 8 trillion rupees
The Sensex index rose to a record high, driven by the Reliance Heavy Industries Index, which made history by becoming the first company in the country to exceed 8 trillion rupees in market capitalization. Reliance Industries added Rs. 15,527 crore in market capitalization today to register as the first Indian company with a market value of Rs. 8 lakh crore or more. Following the sharp rise in RIL shares, Reliance Industries achieved a market capitalization of Rs.8 crore crore for the first time in the stock market trading history at around 1:41 pm. India’s richest person Reliance Industries, led by Mukesh Ambani, is now the only Indian company with a maximum of Rs.8 lakh crores or more.
RIL rose 2.17% to record an all-time high of Rs 1,273.55 on the BSE today. At today’s high share price, RIL retained a market value of Rs. 8.07 crore on the Bombay Stock Exchange, India’s largest stock exchange through the number of listed companies. The shares of Reliance Industries in NSE recorded an all-time high of Rs 1,274, up 2.15% from the previous close of Rs 1,247.2. Earlier this week, Reliance Industries closed the market capitalization of Rs.7.89 crore. The BSE Sensex index closed 0.13 percent higher at 38.336.76, while the broader NSE Nifty index rose 0.1 percent to 11,582.75.
Shares in Reliance Industries rose 1.8%, while Larsen & Tobro rose more than 2%. Among the losers, HDFC Bank fell 0.8 percent.
During the late afternoon, the major Indian stock indices were trading favorably. Key indicators rose during the day in morning trading, with the S&P BSE Sensex recording the highest level at 38,487.63 points, while the NFty50 NSE 50 rose to a peak of 11,620.70 points.
However, the Asian markets are broadly negative due to investor fears of increased trade protectionism measures undermined key indicators. But health purchases in capital goods, health care, and IT counters, have captured the slide and supported the market’s upward movement, according to market observers.
Around 2.15 pm, the Nifty50 index of the National Stock Exchange (NSE) traded at 11,584.05 points, up 13.15 points, or 0.11 percent, from the previous close. The Sensex index opened at 38,416.65 points, trading at 38,358.86 points – up 73.11 points or 0.19% at the end of the previous session at 38,285.75.
The performance on the BSE Sensex 30 index was Larsen & Toubro Ltd (BO: LART) which rose by 2.30% to 1352.50, NTPC Ltd (BO: NTPC), which rose by 2.05% at 164.50 and Reliance Industries Ltd (BO: RELI) ) Which rose by 1.86% and closing at 1269.70.
The worst performer was Tata Motors Ltd (BO: TAMO) which retreated 4.33% to 257.40 at the end of the session, and Tata Motors Ltd (BO: TAMdv) lost 2.97% to settle at 140.35 and Vedanta Ltd (BO: VDAN) 2.01% to 214.80 when closing.
The number of shares on the national stocks on the Indian Stock Exchange fell by 902 to 698 and 62 unchanged; the Bombay Stock Exchange, 1458 fell and 1158 advanced, while 167 unchanged.