Sensex hits fresh all-time high, gains over 400 points

File photo Photograph:( Zee News Network )

WION Web Team Mumbai, Maharashtra, India Jul 12, 2018, 11.03 AM (IST)

Indices are trading higher on Thursday with Sensex hitting a record high of 36,572 levels - surpassing its previous high of 36,444 recorded on January 29, 2018.

The NSE Nifty too reclaimed 11,000-mark for the first time since February 1.

RIL's m-cap crossed $100-billion mark in intra-day trade today, after hitting a new high. It became the second Indian company to cross the milestone after TCS.

Also read: Reliance Industries reclaims $100-bn m-cap mark    

An appreciating rupee, heavy buying by domestic institutional investors (DIIs) and encouraging start to the earnings season contributed to the uptrend, brokers said.

At 12 pm, the 30-share index rallied 413.89 points, or 1.14 per cent, higher to 36,679.82, surpassing its previous high of 36,444 recorded on January 29, 2018.

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 per cent.

Heavy buying was seen on banking, pharma and metals counters.
Top gainers were Reliance Industries (up 5.18 per cent), Yes Bank (4.43 per cent), L&T (1.98 per cent), SBI (1.89 per cent), HUL (1.88 per cent), HDFC (1.73 per cent) and HDFC Bank (1.35 per cent).

Following the uptick in the RIL counter, the market capitalisation of the company touched Rs 6,88,513.11 crore.

Profit-booking has witnessed IT, tech and telecom counters.

Notable losers were Infosys (down 1.58 per cent) and M&M (1.46 per cent).
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.