Sensex ends above 58K for the first time; Nifty climbs 17,300; RIL zooms 4%

The BSE MidCap index closed 0.35 per cent higher after hitting a new peak of 24,454 in the intra-day deals.

Reliance Industries, the market powerhouse, kept the benchmark indices afloat on Friday, overcoming selling pressure in HDFC Bank, HDFC, HUL, and Bharti Airtel. The Mukesh Ambani-led company’s shares rose over 4% on the BSE, setting a new high of Rs 2,394 per share.

Overall, the 30-share BSE barometer closed higher than 58,000 for the first time, at 58,130, up 277 points or 0.48 percent. Meanwhile, its 50-share counterpart rose 89 points, or 0.52 percent, to 17,324, closing over 17,300. The Sensex achieved a fresh career-high of 58,195 in intraday trading, while the Nifty50 index reached 17,340.

In addition, the BSE MidCap index rose 0.35 percent after hitting a new high of 24,454 in intra-day trading, while the BSE SmallCap index rose 0.41 percent after hitting a current high of 27,388.

The market breadth was slightly in favor of buyers, with almost 1,700 firms’ shares rising against 1,400 companies’ shares falling on the bourses.