Nifty, Sensex at record high on boost from Reliance, banking stocks

Bengaluru - In Mumbai, all the main Nifty sub-indexes were up in early trade.

By Reuters

Published: Mon 28 Dec 2020, 9:31 AM

Indian shares hit a record high on Monday as Reliance Industries and financial stocks gained, while investor sentiment remained upbeat globally due to U.S. President Donald Trump approving a $2.3 trillion stimulus package he had been threatening to veto.

The NSE Nifty 50 index was up 0.7 per cent at 13,844.75 by 0347 GMT, while the S&P BSE Sensex was 0.71 per cent higher at 47,307.78. Both indexes hit record highs.

Broader Asian shares rose at the start of the final trading week of 2020 as a source said Donald Trump signed into law a pandemic aid and spending package, averting a partial federal government shutdown in the United States.

In Mumbai, all the main Nifty sub-indexes were up in early trade.

HDFC Bank and Reliance Industries were the top two boosts to the Nifty 50.

The Nifty PSU banking index, which tracks India’s state-owned lenders, rose more than 1 per cent led by a 2 per cent rise in Central Bank of India.

Shares of India’s most valuable company, Reliance Industries, gained 1.1 per cent. Reliance said it would buy out IMG Worldwide LLC from its sports management joint venture for about $7 million.

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