Market ends at fresh record high; RIL hits Rs 10 lakh cr m-cap

Mumbai, Nov 28 (PTI) Extending its record-setting streak for the second session, market benchmark indices ended at fresh closing highs on Thursday following gains in index-heavyweights ICICI Bank and RIL, which became the first Indian firm to breach the Rs 10-lakh crore market valuation mark.

After touching its lifetime high of 41,163.79 during the day, the 30-share Sensex rose by 109.56 points or 0.27 per cent to end at a fresh closing peak of 41,130.17.

The broader NSE Nifty closed at a record high of 12,151.15, up by 50.45 points or 0.42 per cent over the previous close.

Reliance Industries (RIL) became the first Indian company to settle above the Rs 10 lakh crore market valuation mark, ending 0.65 per cent higher.

IndusInd Bank was the top gainer in the Sensex pack, rising 2.68 per cent. ICICI Bank gained 2.68 per cent at close. Yes Bank, Tata Steel, SBI, TCS, L&T and Infosys also advanced.

On the other hand, Hero MotoCorp, HDFC twins, Bajaj Auto, Tata Motors and Maruti settled with losses.

Sustained inflow of foreign investment and short-covering amid the expiry of November derivatives contracts also contributed to the rally, traders said.

Bourses in Hong Kong, Tokyo, Kospi and Seoul ended in the red after China said it was ready to take 'firm countermeasures' against the United States after President Donald Trump signed a law supporting pro-democracy protesters in Hong Kong, putting a dampener on hopes of an early trade truce over tariffs.

Stocks in Europe were trading on a negative note.

On the currency front, the rupee depreciated 30 paise (intra-day) against the US dollar to 71.65.

Brent crude, the global oil benchmark, fell 0.62 per cent to USD 62.62 per barrel in futures trade. PTI ANS MR MR