Sensex hits all-time high; energy shares jumps

Published: July 12, 2018 13:51:32 | Updated: July 14, 2018 12:22:11

India’s Sensex touched an all-time high on Thursday, driven by gains in financial and energy stocks, as optimism around corporate earnings and stronger Asian shares boosted sentiment.

The broader NSE index rose 0.96 per cent to 11053.30 as of 0604 GMT while the benchmark BSE index was 0.93 per cent higher at 36,605.

The BSE index touched 36,612.60 in early trade, a record high, while the NSE index rose 1.0 per cent to an over 5-month high of 11,060.55.

Meanwhile, investors are awaiting May industrial growth (IIP) data and June retail inflation (CPI) data due later in the day, reports Reuters.

Asian shares edged higher, with MSCI’s broadest index of Asia-Pacific shares outside Japan gaining 0.6 per cent.

The BSE index is expected to break a resistance at 36,568 points, technicals suggest. The index is up 6.5 per cent this year as of last close.

Reliance Industries surged 4.7 per cent and was the top gainer on the indexes, while HDFC Bank rose 1.2 per cent.

Shares of oil marketing companies and airlines jumped after crude oil prices posted their biggest one-day drop in two years.

Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd, and Indian Oil Corp Ltd gained over 4.0 per cent each.

Interglobe Aviation Ltd and Jet Airways (India) Ltd rose as much as 5.0 per cent and 6.0 per cent, respectively.

Among the gainers, Dr.Reddy’s Laboratories Ltd jumped as much as 3.8 per cent to its highest level since June 21.

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