1. Nifty breaches 9,300-mark for first time

Nifty breaches 9,300-mark for first time

Market benchmark Nifty surged past the 9,300-level for the first time today, fuelled by a rally in Reliance Industries and other bluechips on upbeat earnings.

By: | Mumbai | Updated: April 25, 2017 3:15 PM
Shares of Reliance Industries surged 1.21 per cent to Rs 1,433.50 after the company yesterday reported a record fourth-quarter net profit of Rs 8,046 crore. (Reuters)

Market benchmark Nifty surged past the 9,300-level for the first time today, fuelled by a rally in Reliance Industries and other bluechips on upbeat earnings. Positive Asian cues and a higher opening in European markets also added to the momentum.

The 50-share NSE Nifty soared 82.45 points, or 0.89 per cent, to quote at its new lifetime high of 9,300.40. It broke the previous record of 9,273.90 reached on April 5. The BSE 30-share Sensex was quoting at 29,926.96 at 1430 hrs, up 271.12 points, or 0.91 per cent. The rupee appreciating to 64.21 against the dollar (intra-day) at the forex market too boosted sentiments.

Shares of Reliance Industries surged 1.21 per cent to Rs 1,433.50 after the company yesterday reported a record fourth-quarter net profit of Rs 8,046 crore.

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Other major gainers that supported the key indices were M&M, Bharti Airtel, Hero MotoCorp, Asian Paints, Power Grid, ITC Ltd, HUL, ICICI Bank and HDFC Ltd, rising by up to 3.36 per cent.

Globally, Japan’s Nikkei surged 1.90 per cent, Hong Kong’s Hang Seng rose 1.31 per cent, while Shanghai Composite Index gained 0.16 per cent.

In Europe, London’s FTSE rose 0.22 per cent, Paris CAC 40 gained 0.18 per cent and Frankfurt’s DAX inched up 0.03 per cent in early deals.

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