Sensex, Nifty Resume Upmove After A Day's Breather; Reliance Industries Hits New High

Mid- and small-cap shares also witnessed buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indices rose 1 per cent each.

Sensex, Nifty Resume Upmove After A Day's Breather; Reliance Industries Hits New High

Analysts awaited more large cap companies to report their financial results for cues

Equity benchmarks S&P BSE Sensex and NSE Nifty 50 resumed their upward journey after a day's pause led by gains in Reliance Industries, ICICI Bank, Kotak Mahindra Bank, ITC, State Bank of India and HDFC Bank. The indices traded firmly higher during the session and built on the gains on the back of a broad-based buying interest. The Sensex rose as much as 353 points and Nifty 50 index reclaimed its important psychological level of 11,200 for the first time since March 5.

The Sensex ended 269 points higher at 38,140 and Nifty 50 index climbed 83 points to settle at 11,215.

All the 11 sector gauges, barring the index of IT shares, ended higher led by a 1.4 per cent gain in the the Nifty Pharma index. The Nifty Bank, Auto, PSU Bank, Financial Services and Metal indices also rose between 0.8 per cent and 1 per cent each.

Mid- and small-cap shares also witnessed buying interest, with the Nifty Midcap 100 and Nifty Smallcap 100 indices each rising 1 per cent.

Among the individual shares, specialty chemical maker Rossari Biotech made a strong debut on the bourses. The stock listed at Rs 670 on the BSE, a premium of 57.65 per cent compared to the issue price of Rs 425 a share. The stock closed at Rs 742.35, up 10.8 per cent from the opening price and up 75 per cent from the issue price.

Reliance Industries was among the top Nifty gainers. The stock jumped nearly 3 per cent to close at a new high of Rs 2,060.65 on the BSE. With today's gain in the stock price, Reliance Industries' market capitalisation crossed Rs 13 lakh crore, making it the first Indian company to achieve this milestone.

Eicher Motors, ICICI Bank, Tech Mahindra, State Bank of India, Indian Oil, ITC, Kotak Mahindra Bank, Asian Paints, Bajaj Auto and Mahindra & Mahindra were also among the gainers.

On the flipside, Axis Bank, Shree Cement, Hindustan Unilever, TCS, Infosys, Grasim Industries, HDFC, Coal India and Larsen & Toubro were among the notable losers.

Overall market breadth was positive as 1,455 shares closed higher whereas 1,202 ended lower on the BSE.