Sensex closes 182 points higher at 40,652, Nifty ends just shy of 12,000-mark; RIL, Sun Pharma among top gainers
Market benchmark Sensex rose 182 points to end near its record peak on Wednesday, led by strong gains in Reliance Industries, Sun Pharma and IndusInd Bank
After scaling a lifetime (intra-day) high of 40,816.38, the 30-share index ended 181.94 points, or 0.45 percent, higher at 40,651.64
Similarly, the broader NSE Nifty closed just shy of the 12,000-mark, advancing 59 points, or 0.49 percent, to end at 11,999.10
Reliance Industries led the gains on Sensex, settling 2.47 percent higher after it touched its life-time high of Rs 1,571.85 (intra-day)
Mumbai: The BSE Sensex darted up 182 points to close just shy of its lifetime high on Wednesday, propelled by index heavyweight Reliance Industries, Sun Pharma and IndusInd Bank.
After scaling a new intra-day record of 40,816.38, the 30-share index ended 181.94 points, or 0.45 percent, higher at 40,651.64. It is just 2 points shy of its all-time closing high, hit on 7 November, 2019.
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Similarly, the broader NSE Nifty closed just below the crucial 12,000-mark, advancing 59 points, or 0.49 percent, to end at 11,999.10.
Reliance Industries led the gains on the Sensex in value terms, settling 2.47 percent higher after touching its lifetime high of Rs 1,571.85 (intra-day).
The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the historic Rs 10 lakh crore mark. It ended Wednesday's session with a market capitalisation of Rs 9,80,699.59 crore.
Among other gainers, Sun Pharma rallied 5.73 percent, IndusInd Bank 5.50 percent and Yes Bank jumped 2.65 percent.
L&T, Maruti, Tech Mahindra, ITC and PowerGrid too ended on a positive note.
On the other hand, Kotak Mahindra Bank dropped 1.49 percent, HDFC fell 0.87 percent and Tata Steel slipped 0.83 percent. HUL, SBI and Bharti Airtel too finished in the red.
"Markets usually run ahead of macros and price future growth. There are three positive indicators for growth -- a reduction in the corporate tax rate, proposed divestment of large public sector units, and a possible resolution of the US-China trade impasse. Therefore we see growth coming back in 2020," said Sanjiv Bhasin, Director, IIFL Securities.
Sectorally, BSE energy, healthcare, oil and gas, industrials and capital goods indices rose up to 2.10 percent.
BSE realty, consumer durables, power, telecom and utilities lost up to 1.36 percent.
Broader BSE midcap and smallcap indices gained up to 0.25 percent.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul settled significantly lower after US President Donald Trump on Tuesday warned that failure to get a trade deal with China will prompt more tariffs.
European equities were also trading on a negative note in their respective early deals.
Meanwhile, the Indian rupee depreciated 15 paise to 71.86 against the US dollar in intra-day trade.
Brent crude futures, the global oil benchmark, slipped 0.11 percent to $60.84 per barrel.
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