Sensex, Nifty hit all-time high levels on rally in Reliance, Tata Motors shares

Mumbai, Aug 29: Equity benchmark indices Sensex and Nifty hit their all-time high levels on Thursday, driven by a fag-end rally in index majors Reliance Industries and Tata Motors.

Robust buying in energy and FMCG stocks also supported the domestic equities, traders said.

The 30-share BSE Sensex jumped 349.05 points or 0.43 per cent to settle at an all-time closing high of 82,134.61, extending its winning momentum to the eighth day in a row. During the day, it soared 500.27 points or 0.61 per cent to hit a lifetime intra-day peak of 82,285.83.

The BSE gauge has surged 1,709.93 points or 2.12 per cent in eight straight trading sessions.

Rallying for the 11th straight session, the NSE Nifty surged 99.60 points or 0.40 per cent to settle at a new closing high of 25,151.95. During the trade, the benchmark climbed 140.55 points or 0.56 per cent to hit a fresh record intra-day peak of 25,192.90.

In 11 trading days, the NSE Nifty has jumped 1,012.95 points or 4.19 per cent.

"Markets were back in action on the expiry day after range-bound sessions, as benchmark indices hit fresh intra-day lifetime highs led by gains in Reliance Industries, which announced a 1:1 bonus issue.

"Markets were volatile and had slipped into the red in mid-session, but rebounded in late trade as investors cheered the bonus issue announcement by RIL, which led to buying action in other select frontline stocks," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Among the 30 Sensex firms, Tata Motors jumped over 4 per cent, followed by Bajaj Finserv, Bajaj Finance, HCL Technologies, ITC, Reliance Industries, Tech Mahindra, Maruti and State Bank of India.

Reliance Industries climbed nearly 2 per cent after Mukesh Ambani, chairman and managing director of the firm, said the board of the company will meet on September 5 to consider issuing bonus shares in the ratio of 1:1.