Markets

Reliance Industries rallies 4% becoming first Indian company to hit the ₹9.5 lakh-crore market capitalisation level as Sensex rises by 186 points

more-in

Shares of Bharti Airtel and Vodafone Idea see a hike after announcement of tariff revision for their services

Market benchmark Sensex rose by 186 points on Tuesday, tracking substantial gains in index heavyweights Reliance Industries and Bharti Airtel amid positive cues from global equities.

The 30-share index ended 185.51 points, or 0.46%, higher at 40,469.70. It hit an intra-day high of 40,544.13 and a low of 40,290.21. As many as 11 of 30 Sensex stocks ended in green. Similarly, the broader NSE Nifty rose 55.60 points, or 0.47%, to end at 11,940.10. Reliance Industries led the gains on Sensex, rallying nearly 4% as it touched its life-time high of ₹1,514.95 (intra-day). It became the first Indian company to hit the ₹9.5 lakh-crore market capitalisation level.

Shares of Bharti Airtel soared 7.36% and Vodafone Idea rallied 34.68% after both the companies announced a hike in mobile phone call and data charges from December. Axis Bank, PowerGrid, Tech Mahindra, SBI, IndusInd Bank and Infosys were among the other gainers. On the other hand, Yes Bank dropped 2.66% to emerge as the biggest Sensex loser, M&M fell by 2.19%, and Tata Steel by 2.02%. TCS, Tata Motors and Hero MotoCorp also declined.

Elsewhere in Asia, bourses in Shanghai and Hong Kong settled significantly higher while those in Tokyo and Seoul settled in the red. European equities were trading on a positive note in their respective early deals. Meanwhile, the Indian rupee depreciated by 17 paise to 71.86 against the US dollar in intra-day trade.

Brent Crude Futures, the global oil benchmark, fell 0.83% to $61.92 per barrel.

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Dec 16, 2019 10:53:09 AM | https://www.thehindu.com/business/markets/reliance-industries-rallies-4-becoming-first-indian-company-to-hit-the-95-lakh-crore-market-capitalisation-level-as-sensex-rises-by-186-points/article30017023.ece

Next Story