Sensex up 650 points, RIL hits new high ahead of AGM

Dubai - Shares of Reliance Industries (RIL) continued their bull run and hit a fresh record high of Rs1,954.05 per share.

The key Indian equity indices surged on Wednesday with the BSE Sensex gaining over 650 points.
Healthy buying was witnessed in IT, banking and finance stocks.
Shares of Reliance Industries (RIL) continued their bull run and hit a fresh record high of Rs1,954.05 per share. Around 10.57 a.m., RIL shares were trading at Rs 1,953.05, higher by Rs36.40 or 1.90 from its previous close.
Its shares rose ahead of the Annual General Meeting of the company scheduled later in the day.
BSE Sensex is currently trading around 36,702, higher by 668.94 points or 1.86 per cent from the previous close of 36,033.06. It opened at 36,314.76 and touched an intra-day high of 36,732.06 and a low of 36,297.65.
The Nifty50 on the National Stock Exchange was trading at 10,792.60, higher by 185.25 points or 1.75 per cent from its previous close.
Devesh Mamtani, Head of Investments & Advisory, Financial Markets, said: "Following the positive global cues and optimism about Moderna news that its corona virus vaccine produced robust immune response in all patients, Nifty50 and BSE Sensex rallied by 1.60 peer cent."
In Nifty50 gain is led by Wipro which is up by 14.80 per cent, Infosys up by 6.20 per cent.
Mamtani added: "Wipro price boosted by earnings reported by company 1.22 per cent rise in net profit on quarterly basis. Infosys wins large contract from US investment firm Vanguard and also going to post earnings today. Among the sectoral indices, Nifty Bank is up by 2.20 per cent, Nifty IT is up by 4.98 per cent and Metal is up by 1.42 per cent." 
Meanwhile, Indian rupee has extended the early gains and is trading higher by 13 paise at 75.28 per US dollar, to quote at Dh20.51. It opened higher by 7 paise at 75.34 per dollar against Tuesday close of 75.41.
- With inputs from IANS, business@khaleejtimes.com