Share benchmarks rose for a third consecutive day with the Sensex closing near record highs as investors hope earnings growth to continue in June quarter. The BSE Sensex rose 304.90 points to 36,239.62 and the NSE Nifty 50 index climbed 94.40 points to 10,947.30. Reliance Industries, HDFC and HDFC Bank contributed over 50 percent to Nifty.
Favorable monsoon rains, increase in the MSP of Kharif crops and a ease in global trade tensions are also boosted the market. Shares of Reliance Industries rose over 3% after reports that India Gas Solutions, a JV between Reliance and BP Plc, will bid for city gas distribution license.
Index heavyweight Reliance Industries Limited gained 3.02 percent to Rs 1,025.75, HDFC rose 1.54 percent at Rs. 1939.20 while TCS shed 0.56 percent at Rs. 1877, ahead of its June first quarter result today, 10 July 2018.
HCL Technologies gained 1.86 percent at Rs. 979.10 after the company’s proposal for buyback of the equity shares.
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