The Sensex pack saw notable gains in constituents like IndusInd Bank, Sun Pharmaceutical, HDFC Bank, Maruti Suzuki and L&T.
The benchmark Sensex touched a new high of 40,816.38 during the morning session on Wednesday, primarily led by strong gains in index heavyweight Reliance Industries (RIL).
At 1.30 p.m., the 30-share Sensex was trading at 40,698.25, up 228.55 points or 0.56%. The broader Nifty was also trading above the psychological 12,000-mark at 12,002.65, up 62.55 points or 0.52%.
The gains were primarily on the back of the RIL, which touched a 52-week high of ₹1,571.85 during the morning session on reports that the telecom arm Reliance Jio will increase tariffs.
Incidentally, foreign brokerages like Morgan Stanley and Credit Suisse have a very bullish view on the stock post the tariff hike.
Apart from the RIL, the Sensex pack saw notable gains in constituents like IndusInd Bank, Sun Pharmaceutical, HDFC Bank, Maruti Suzuki and L&T.
Interestingly, investor sentiment has received a boost after reports that the government is actively looking at divestment in public sector undertakings in the coming months.
Further, foreign portfolio investors (FPIs) turning bullish on Indian equities has also acted as a catalyst in lifting investor sentiments. In November, FPIs are currently net buyers at nearly ₹13,000 crore.
In October, FPIs were net buyers at ₹12,368 crore.
You have reached your limit for free articles this month.
Register to The Hindu for free and get unlimited access for 30 days.
Sign up for a 30-day free trial. Sign Up
Subscription Benefits Include
Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.
Enjoy reading as many articles as you wish without any limitations.
A select list of articles that match your interests and tastes.
Move smoothly between articles as our pages load instantly.
A one-stop-shop for seeing the latest updates, and managing your preferences.
We brief you on the latest and most important developments, three times a day.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
SUBSCRIBE TO OUR DAILY NEWSLETTER
Please enter a valid email address.
- Comments will be moderated by The Hindu editorial team.
- Comments that are abusive, personal, incendiary or irrelevant cannot be published.
- Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not ‘the’, n is not ‘and’).
- We may remove hyperlinks within comments.
- Please use a genuine email ID and provide your name, to avoid rejection.
Printable version | Nov 20, 2019 2:41:16 PM | https://www.thehindu.com/business/with-ril-at-52-week-high-sensex-touches-new-high/article30025748.ece
© THG PUBLISHING PVT LTD.