Reliance counter witnesses 99 block deals in BSE and NSE

MUMBAI: Led by strong demand for shares of Reliance Industries, the Bombay Stock Exchange Sensex rose by almost 150 points to cross the 9500-mark for the first time.

As the record date for Reliance Industries approaches, steep demand for the heavy weight index share was witnessed throughout the day along with strong demand for other blue chip companies, including ACC, SBI, TCS and Grasim Industries.

The rise in the Sensex was attributed to a significant rally in Reliance Industries stocks, which had about 11 per cent weight in the Sensex, flared up to scale a new high of Rs. 923. More than 68 lakh shares were transacted while 99 block deals took place on the NSE and the BSE.

Reliance Industries gained after the company raised some of its product prices used to make polyester yarn and polymers.

The BSE 30-share Sensex commenced higher at 9401.83 and rallied to cross the 9500-mark to a record high of 9546.78 before settling 149.23 points higher at 9539.37. The index surpassed its record of 9397.93 set on December 30.

The Nifty on the National Stock Exchange rose by 47.40 points to 2883.35 after touching a new high of 2887.20.

The Capital goods index rose by 79.71 points to 5896.39. The Oil and Gas index was up 77.75 points at 4728.37as shares of Reliance Industries rose by Rs. 21 to Rs. 919.50 after touching a high of Rs. 923, Hindustan Petroleum by Rs. 8.50 to Rs. 334.25, ONGC by Rs. 17.10 to Rs. 1,209.70, and IOC by Rs. 6.15 to Rs. 561.50. - PTI