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Sensex above 49,500 as RIL joins bandwagon of market rally
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SME Times News Bureau | 12 Jan, 2021
The Indian stock market rose to new highs in the
afternoon session of trade on Tuesday backed by bullish RIL stocks,
after a choppy trade initially.
Both the BSE Sensex and the
Nifty50 on the National Stock Exchange (NSE) rose above the
psychological levels of 49,500 and 14,500 points, respectively. The BSE
Sensex touched a new all-time high of 49,569.14 points while the Nifty50
hit a new high of 14,590.65 points.
The market was supported by gains in the heavyweight stocks of Reliance Industries (RIL) and HDFC.
RIL shares, which have largely been subdued in the past few months, surged over 3 per cent on Tuesday.
On the BSE, RIL shares closed at Rs 1,956.65, higher by Rs 59.65, or 3.14 per cent, from their previous close.
RIL
stocks surged even after Amazon wrote to SEBI Chairman Ajay Tyagi
urging the regulator not to give no-objection to the Future Retail
transaction with Reliance as the Singapore International Arbitration
Centre (SIAC) has constituted an arbitral tribunal.
Healthy
buying was witnessed in energy, oil and gas, auto and telecom stocks,
while consumer durables, capital goods and FMCG stocks fell.
Sensex closed at 49,517.11, higher by 247.79 points, or 0.50 per cent, from its previous close of 49,269.32 points.
Nifty50 settled at its record closing level of 14,563.45, higher by 78.70 points, or 0.54 per cent, from its previous close.
The
top gainers on the Sensex were State Bank of India, Bharti Airtel and
Reliance Industries. The major losers were Asian Paints, Titan Company
and Hindustan Unilever.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
84.35
|
82.60 |
UK Pound
|
106.35
|
102.90 |
Euro
|
92.50
|
89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
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