Sensex hits all time highs on Reliance Asian markets boost

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Indian shares hit record highs on Monday, boosted by heavyweight Reliance Industries and firmer Asian markets after a weak US jobs report raised hopes that the Federal Reserve could continue its massive economic support for a longer period.

The blue-chip NSE Nifty 50 index was up 0.44 per cent at 17,399.75 by 0346 GMT and the benchmark S&P BSE Sensex climbed 0.46 per cent to 58,394.95. Both the indexes rose more than 3.50 per cent in their second straight week of gains last week.

Oil-to-telecoms conglomerate Reliance Industries Ltd and Hindalco Industries Ltd were among the top performers on the Nifty 50, gaining 2.4 per cent and 1.8 per cent, respectively.

In the broader Asian market, shares edged higher as a disappointing U.S. payrolls report promised to keep policy there loose for longer, but also clouded the outlook for global growth and inflation.


Source Indiatoday

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