Sensex ends above 58K for the first time; Nifty climbs 17,300; RIL zooms 4%
Market behemoth Reliance Industries kept the benchmark indices afloat on Friday overpowering selling pressure in HDFC Bank, HDFC, HUL, and Bharti Airtel. The Mukesh Ambani-led company’s shares hit fresh record high of Rs 2,394 apiece after they surged over 4 per cent on the BSE.
Overall, the BSE barometer of 30-shares closed above the 58,000-mark for the first time at 58,130 levels, up 277 points or 0.48 per cent. It’s 50-share counterpart, meanwhile, marched 89 points higher, or 0.52 per cent, to settle above 17,300 at 17,324. In the intra-day deals, the Sensex hit a new lifetime high of 58,195 while the Nifty50 index touched 17,340.
Besides, the BSE MidCap index closed 0.35 per cent higher after hitting a new peak of 24,454 in the intra-day deals while the BSE SmallCap index gained 0.41 per cent after touching a new high of 27,388.
Market breadth was marginally in favour of buyers with shares of over 1,700 companies advancing as against shares of 1,400 companies that fell on the bourses.
Shares of Zomato hit a new high of Rs 150.50 as they 9 per cent on the BSE in intra-day trade on the back of heavy volumes. The stock of the online food delivery company surpassed its previous high of Rs 147.80 touched on July 27, 2021. Till 03:05 pm, a combined 102 million equity shares had changed hands on the NSE and BSE so far.
ICICI Prudential Life Insurance (ICICI Pru) has joined the elite club of companies with Rs 1 trillion market capitalization (market-cap) on the BSE today, after its share price hit a new high of Rs 708.20, rallying 5 per cent in intra-day trades. The earlier life-time high for the life insurance stock was Rs 694.30 registered on August 18, 2021.
Shares of L&T Technology Services (LTTS) hit a new high of Rs 4,412.80, surging 9 per cent on the BSE in the intra-day trade on Friday, after the management guided for $1.5 billion revenue and 18 per cent earnings before interest tax (Ebit) margins by FY25 on strong demand outlook. In the past three months, the stock has rallied 62 per cent, as compared to a 11 per cent rise in the S&P BSE Sensex.
Shares of Exide Industries hit a high of Rs 202.95, up 14 per cent in early morning trades, on the divestment of the company’s entire stake in Exide Life Insurance Company, by way of sale to HDFC Life Insurance Company for a total consideration of Rs 6,687 crore. Exide Life Insurance Company is a material wholly owned subsidiary of the Exide Industries.
Shares of Zen Technologies hit 10% upper circuit on Rs 155 crore order win from Indian Air Force (IAF) for the supply of Counter Unmanned Aircraft Systems (CUAS).
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