Mumbai, Aug 8: The benchmark indices settled at new record closing highs on Wednesday led by a rise in the shares of financial stocks and Reliance Industries (RIL).
The S&P BSE Sensex settled at a record high of 37,888, up 222 points, while the broader Nifty 50 index settled at a new high of 11,450, up 61 points. In intra-day deals, the S&P BSE Sensex hit a fresh all-time high of 37,931.42 while the Nifty50 index touched its record high level of 11,459.95.
Market heavyweight RIL ended the day at Rs 1220.95 on the BSE, rising 3.16 per cent from the previous close. The stock had hit a new high of Rs 1,222 in intra-day deals.
Among sectoral indices, the Nifty PSU Bank ended nearly 1 per cent higher led by State Bank of India and Bank of baroda.
Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong US earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, led by Taiwan, while Japan’s Nikkei ticked down 0.1 per cent.
Oil prices held steady on Wednesday, supported by a report of rising US crude inventories as well as the introduction of sanctions against Iran.
Front-month US West Texas Intermediate (WTI) crude futures were at $69.28 per barrel, up 11 cents from their last settlement. Brent crude oil futures were at $74.61 per barrel, down 4 cents from their last close.