Share Market Live: Indian stock markets shrugged off earlier losses and rallied to close at a fresh new high on Tuesday, with the Sensex closing at a record all-time high of 37,606.58 points. Reliance, HUL, Infosys, Maruti Suzuki were the top contributors to the Sensex index in Tuesday’s trade. The other benchmark index Nifty of the National Stock Exchange surged to a fresh high of 11,356.50 points on closing.
RIL (Reliance Industries Ltd) shares surged over 3% on the Sensex index to an all-time high and became the most valued Indian company on 31 July, Tuesday. Following the sharp rally in the share prices of RIL, the market capitalisation of company topped that of TCS (Tata Consultancy Services). At closing, the Mukesh Ambani-controlled oil-to-textile-t0-telecom conglomerate Reliance Industries Ltd’s stock market value stood at Rs 7.51 lakh crore.
The domestic stock markets extended losses in the mid-morning deals on Tuesday with BSE Sensex falling 236 points from the all-time high of 37,644.59 and NSE Nifty nearing 11,250 following the declines led by blue-chip stocks of HDFC, Infosys, ITC, Axis Bank and HDFC Bank. Indian shares fell in negative territory after opening flat on Tuesday with BSE Sensex tumbling more than 100 points after touching a new all-time high and NSE Nifty losing 11,300-level.
The massive sell-off in tech stocks on Wall Street overnight with tech-heavy Nasdaq slipping more than 100 points has been steered Asian stocks into the red. Meanwhile, Asian share markets weakened on Tuesday, taking cues from the rout in global technology shares while the yen edged higher ahead of the Bank of Japan’s rate review, at which it could flag a shift away from its massive monetary stimulus, a Reuters report said.