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Sensex Hits Record High; Nifty Reclaims 11,000 Points
Good Returns | 12th Jul, 2018 12:36 PM

The Sensex hit a record high in early morning trade, led by solid gains in oil marketing stocks and heavyweight Reliance Industries.

The Sensex was trading at a lifetime high of 36,678 points, up by 400 points over Wedesday's close. The Nifty too reclaimed the 11,000 points mark and was trading at 11,068 points, up 120 points.

Shares in HCL Tech were up 1.25 per cent, ahead of a board meeting to consider buyback of shares. Reliance Industries was up 5 per cent in trade, and hit a record high of Rs 1095, even as the company's market capitalization surged past the $100 billion mark.

Overseas, Asian stocks were trading higher, despite weakness at Wall Street in overnight trade, as investor weighed ongoing trade war between US and China. In a fresh development, China"s commerce ministry has termed the US actions "completely unacceptable" and threatened to file complain to the World Trade Organisation, Reuters reported.

On the economy front, IIP numbers for May will be released today which may give some indication about economic growth. On the corporate front, shares of HCL Technologies will remain in focus as its board will consider share buyback today. Among others, traders will also keep an eye on shares of IT firm Cyient and Karnaraka Bank as they will announce their quarterly numbers later in the day.

   
 
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