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Sensex, Nifty trade at life-time highs; Reliance Industries, ITC advance

Sensex, Nifty trade at life-time highs; Reliance Industries, ITC advance

BSE Mid-cap index closed higher by 0.27% at 15,226.

India's benchmark index Sensex hit a record high on Monday, led by blue-chip Reliance Industries after the petrochemicals-to-retail conglomerate reported a better-than- expected quarterly earnings and announced a low-priced, 4G-enabled phone.

However, Dr. Reddy's Laboratories (down 1.09 per cent), Vedanta (down 0.89 per cent), Asian Paints (down 0.72 per cent) and Tata Steel (down 0.65 per cent) were trading in red.

The benchmark BSE Sensex closed higher by 216.98 points or 0.68 percent at 32,245.87, while the broader Nifty index finished up 51.15 points or 0.52 percent at 9,966.40.

At 12.50 p.m., the wider Nifty of the National Stock Exchange (NSE) traded 52.60 points, or 0.53 per cent higher at 9,967.85 points.

Benchmark Nifty50 opened on a strong note and soon touched its all-time high at 9,942.80.

However, the rupee depreciated 10 paise, to 64.42 against the dollar in afternoon deals at the forex market.

The surge has occurred after the International Monetary Fund said India's GDP growth may come in at 7.2 per cent in 2017, even as the fund believes global growth outlook is skewed to the downside in medium-term.

About 1,389 shares declined against 1,330 advancing shares on the BSE. Among Nifty stocks, Yes Bank was the top gainer, up 2.2 per cent, followed by Bank of Baroda, Wipro, Reliance Industries and Hero MotoCorp, which added between 1.1 per cent and 1.9 per cent. SBI, Lupin, Infosys and ACC also rose between 0.6 per cent and 0.9 per cent, supporting gains in the Nifty.

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