There were celebrations at the Bombay Stock Exchange on Tuesday after the 30-share index surpassed the 34,000 mark, hitting a new record. The BSE Sensex touched an all-time high of 34,061.88 points before ending 70.31 points up at 34,010.61.
The National Stock Exchange Nifty, too, set a new record – it hit a high of 10,545.45 points before ending 38.50 points up at 10,531.50.
The markets rallied after Reliance Communications Chairperson Anil Ambani announced that his company is expected to reduce its Rs 45,000-crore debt to Rs 6,000 crore by January-March by monetising the assets of its wireless business, the Financial Express reported. R-Com shares soared over 30% on the Nifty after Ambani announced the company’s plan.
Metal, telecom and pharma stocks mostly pulled the markets up. Bharti Airtel, Sun Pharma, Yes Bank, Tata Steel and Dr Reddy’s were the top performers on the Sensex, whereas NTPC, the State Bank of India, Coal India, Mahindra & Mahindra and HDFC Bank made the highest losses.
Bharti Airtel, Ambuja Cement, Cipla, Boschl Ltd and Vendanta made the highest gains on the Nifty. Coal India, SBI, Indian Oil Corporation, NTPC and Hindustan Unilever were the biggest losers.