Sensex ends above 34,000 for the first time ever: 13 large-cap stocks hit 52-week high today

India’s stock market closed higher on Tuesday with Sensex and Nifty closing at their respective record highs. S&P BSE Sensex gained 70.31 points or 0.21% to finish at a closing record high of 34,010.61 and NSE Nifty inched up 38.5 points or 0.37% to conclude at an all-time high of 10,531.5. Shares of Reliance Industries, Bharti Airtel, Sun Pharma and Yes Bank emerged contributed the most to the Sensex gains. Domestic markets opened little higher today but very soon fell back to trade in red and continued the dull activity till 3 pm. In the last half-an-hour session, Sensex spiked 121.58 points to hit the all-time high of 34,061.88 while Nifty jumped 52.45 points to mark the lifetime high of 10,545.45. Amid the making and breaking of new highs in the stock market, we take a look at 13 large-cap stocks that hit a 52-week high today.

In a major movement in stock markets today, shares of Reliance Communications surged as much as 41.1% to the day’s high of Rs 23.2 before settling up 31.9% at Rs 21.5 on NSE while the stock rose 41.02% to hit a day’s high of Rs 23 before finishing up 30.78% at Rs 21.33 on BSE. Following a huge spurt in the share price of Reliance Communications, the market capitalisation of RCom jumped to Rs 5,898.88 crore from Rs 4,510.59 crore as per the Friday’s closing price of Rs 16.31 on BSE. Anil Ambani said the total debt of the company would be reduced by Rs 39,000 crore and the company will close all the transactions by January-March 2018.

In the Reliance Communications presser held on Tuesday, Anil Ambani said the company will exit the strategic debt restructuring plan with a zero write-off to lenders and bankers. Reliance Communications will be reducing its debt by monetising the assets of its wireless business and no part of the debt will be converted into equity under the new plan.

Over the last one year, S&P BSE Sensex has been on a rising streak. Sensex had surpassed eight levels this year, rising by more than 8,000 points in the last 12-month period. Sensex has added about 8,189 points to an all-time high of 34,005.37 from a level of 25,807.1 a year ago. The 30-share barometer Sensex has seen a couple of slumps in a journey from 25,807 to 34,000 but many other factors kept the momentum going, such as World Bank ease of doing business upgrade, Moody’s sovereign credit rating upgrade, Modi government’s PSU bank recapitalisation and others.