The NSE Index Nifty set a record high during the morning hours. Nifty surged past the 9,300-level. The rally was backed by a predicted upswing of Reliance Industries Ltd (RIL) and other scripts which outperformed the market post announcing exceptional quarter results.
Positive Asian cues clubbed with an impressive opening in European markets triggered a sudden rise in the Market Benchmark Nifty. The NSE Nifty soared 82.45 points, or 0.89%, to foray into its new lifetime high of 9,300.40, beating it’s previous record of 9,273.90 which the 50 share index made on April 5.
At 9:10 in the morning, the rupee opened at 64.41 a dollar, after closing at 64.44 on Monday. Within 5 minutes of opening, ruppe emerged stronger as it started trading at 64.39 a dollar amid positive factors playing in the market.
Post Reliance declared it’s rather stunning quarter results, the share bounced to 1,433.50, close to an increase of 1.21%. The multi-business company beat the market estimates to peg it’s earnings at Rs 8,046 crore.
Not only Reliance, the market boasted of a slew of top gainers which supported the nifty and Sensex levels. Amongst the key outperformers were M&M, Bharti Airtel, Hero MotoCorp, Asian Paints, Power Grid, ITC Ltd, HUL, ICICI Bank and HDFC Ltd.
On a global landscape, Japan’s Nikkei surged 1.90%, Hong Kong’s Hang Seng rose 1.31%, while Shanghai Composite Index gained 0.16%. In Europe, London’s FTSE rose 0.22%, Paris CAC 40 gained 0.18% and Frankfurt’s DAX rose by 0.03% in the early hour of trade.
Nearing to the closing minute, S&P BSE Sensex closed higher by 287 points, or 0.97%, to close at 29,943, while the Nifty 50 rose 89 points, or 0.96%, to 9,307.
Following a positive announcement by Biocon to consider a bonus issue in it’s nextboard meeting on April 27, the share surged 5% to Rs1,119.
