Sensex hits 38,000 for first time ever, Nifty too at record high as shares of RIL, ICICI Bank, zoom 2.5%

Sensex opened 100 points higher and soon surged to 38,050 in the opening trade.

The domestic stock market continued their strong run on Thursday, after closing at record high levels yesterday. The 30-share Sensex extended rally on Thursday, and crossed the 38,000 level for the first time ever. Sensex opened 100 points higher and soon surged to 38,050 in the opening trade. The broader Nifty 50 opened at 11,493, up by 0.2%. The 50-share index Nifty opened at fresh record high. Shares of ICICI Bank, Infosys, Axis Bank, VEDL were among the top gainers in the index. In the Nifty, shares of ONGC, RIL, Bajaj Finance rallied by nearly 3% each. 40 shares were trading in the green, while 9 shares traded in the red.

Notably, the stock markets (Sensex and Nifty) ended at record closing highs on Wednesday with BSE Sensex closing near to 37,900 and NSE Nifty finishing above 11,450 for the first time in stock market history following the rally in RIL (Reliance Industries) share price. Billionaire Mukesh Ambani-led Reliance Industries shares surged as much as 3.25% to an all-time high of Rs 1,222 before closing up 2.85% at Rs 1,217.25 on BSE yesterday.

Asian stock markets were mixed on Thursday with Chinese stocks outperforming the region, as investors watched the latest developments on trade, Reuters reported.  Japan’s Nikkei 225 fell 0.3 percent to 22,584.18 while South Korea’s Kospi inched down 0.2 percent to 2,297.62. Hong Kong’s Hang Seng index advanced 0.6 percent to 28,533.38. Shanghai Composite Index jumped 1.3 percent to 2,781.06. Australia’s S&P-ASX 200 was up 0.5 percent to 6,301.30, said the report.

U.S. crude was trading down 12 cents at $66.82 per barrel, having shed 3.2% on Wednesday, while Brent was off 2 cents at $72.26. On Wall Street, trade-sensitive industrial companies were the biggest drag on the Dow, with declines led by Boeing and Caterpillar Inc, said the agency. The Dow fell 0.18%, while the S&P 500 lost 0.03 percent and the Nasdaq added 0.06 percent.

Among the various stocks to watch today would be Reliance Industries, as reports suggest that ZEE has pulled out of content for Reliance Jio. UPL is reportedly in early talks to pick up a stake in Kaveri Seeds. Shares of private sector lender ICICI Bank may also assume focus eapecially after the bank said that it has made full disclosures about its bad loans and non-performing assets (NPAs) in its annual report, investor presentations and analysts’ calls. 

“The bank’s accounts are audited by reputed statutory auditors whose audit report and audit opinion form part of the bank’s annual report,” ICICI Bank said in a statement. State-run State Bank of India has plans to expand its user base to 250 million in 2 years under yono, according to a report. 

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