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Markets rallied to record highs today, with the Sensex ending just below the 30,000-mark and the Nifty finishing at 9,265.15, fuelled by bluechips RIL and Maruti. Investors are in a wait-and-watch mode ahead of the RBI's first bi-monthly policy review for 2017-18 due tomorrow. The central bank is widely expected to hold rates, but there are hopes of more steps being announced to address growing NPAs and excess liquidity, traders said. The BSE 30-share index hit a high of 30,007.48 in intra-day trade, but slipped to 29,817.69 before settling at 29,974.24, up 64.02 points or 0.21 per cent. This surpassed its previous high of 29,910.22, recorded on April 3. The gauge had gained 289.72 points in the previous session on Monday amid sustained foreign capital inflows and a firming global trend. Similarly, the broader 50-issue NSE Nifty touched 9,273.90 points on sustained foreign fund inflows. However, due to profit-taking at record levels, it shed some ground to close at 9,265.15, up by 27.30 points or 0.30 per cent. It broke the previous record of 9,237.85 reached on April 3. The Monetary Policy Committee, headed by RBI Governor Urjit Patel, began its two-day meeting today. "With RBI meet underway, hopes of measures towards NPA resolution and excess liquidity extended banks' run, while other rate sensitive sectors also tagged along, helping indices to record peaks. "Firm rupee and immigration woes continue to bother IT companies, and international cues should weigh more in the week ahead in light of US jobs data and FOMC minutes release," said Anand James, Chief Market Strategist, Geojit Financial Services Ltd. Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 534.45 crore on Monday, as per provisional data from the stock exchanges. Shares of index heavyweight Reliance Industries maintained its winning streak triggered by Jio prime membership offer, rising 3.19 per cent to close at a fresh nine-year high of Rs 1,414.90. Maruti Suzuki zoomed 4.40 per cent to end at an all-time high of Rs 6,339.40, while L&T surged 2.18 per cent to Rs 1,696.85 on reports of the company bagging huge orders. Among the sectoral indices, realty rose the most by surging 4.08 per cent, followed by consumer durables (2.41 per cent), capital goods (1.53 per cent), auto (1.09 per cent), metal (0.94 per cent) and oil and gas (0.72 per cent). Gainers among the 30 Sensex stocks were Adani Ports (4.50 per cent), HUL (1.82 per cent), Tata Steel (1.65 per cent), Axis Bank (up 1.54 per cent), Lupin (1.28 per cent), SBI (1.21 per cent), NTPC (1 per cent), Wipro (0.68 per cent), Bharti Airtel (0.67 per cent), Tata Motors (0.66 per cent) and M&M (0.37 per cent). The broader markets too remained extremely bullish, with several stocks hitting 52-week highs, lifting the small-cap index by 1.12 per cent and mid-cap index by 0.46 per cent. Brokers said investor sentiment remained upbeat after a monthly survey showed that manufacturing sector grew at its fastest pace in five months in March, marking the third straight month of expansion. Besides, strong FIIs inflows and the Lok Sabha clearing four GST legislations, paving the way for the rollout of the new indirect tax regime from July 1, added to the momentum. Globally, there was a firming trend at other Asian markets while the European shares rose in their late morning trade. Investors are awaiting minutes of the Federal Reserve's last interest-rate meeting and US jobs data. In the Asian region, Hong Kong's Hang Seng rose 0.57 per cent, Shanghai Composite Index gained 1.48 per cent and Japan's Nikkei ended 0.27 per cent higher. Among European markets, London's FTSE and Paris CAC rose by up to 0.23 per cent but Frankfurt's DAX was down 0.27 per cent.


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Telecom stocks today surged up to 8 per cent after the recent increase in Reliance Jio tariffs, which is largely seen as positive for the sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs 497.50 on BSE. Bharti Airtel was the biggest gainer among the 30-share index components. The scrip of Idea Cellular soared 7.74 per cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per cent to Rs 17.70. Reliance Jio made its service dearer by about 15 per cent for its popular 84-day plan at Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day. The company restructured its various schemes by reducing their validity period. The recent increase in Reliance Jio tariffs will increase its average revenue per user by up to 20 per cent and is a positive for the telecom sector, which is seeing a rapid consolidation, says a Philip Capital report. Established telecom sector players have seen huge reduction in their margins. Idea Cellular and Reli…


Stock markets ended on a flat note on Wednesday, just below their record highs, but finished Samvat 2073 with robust gains of over 16 per cent. Equities added over Rs 25 lakh crore to investors' wealth this Samvat year. The benchmark Sensex has gained 4642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1572.85 points, or 18.20 per cent during this period.
Small loss in last session
In the last session of the Samvat 2073 on Wednesday, the 50-share Nifty fell by 23.60 points or 0.23 per cent to close at 10,210.85 after moving between 10,175.75 and 10,236.45. The Sensex resumed lower at 32,518.56 and fell further to a low of 32,462.85 before ending at 32,584.35, down 24.81 points or 0.08 per cent. Investors adopted a cautious approach ahead of the long Diwali weekend, while a weak rupee too affected sentiment, brokers said.
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The Aditya Birla group has entered the top valuation league with a market cap of over USD 50 billion post listing of financial services arm Aditya Birla Capital (ABCL), but Tatas remain on top with over USD 132 billion.
The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.
Among various listed companies of the group, UltraTech Cement's valuation stood at Rs 1,10,097.70 crore at the end of Friday's trade while that of Grasim Industries was Rs 76,881.73 crore.
The newly-listed Aditya Birla Capital's market capitalisation was over Rs 55,000 crore, Hindalco (Rs 54,607.09 crore), Idea Cellular (Rs 32,064.91 crore), Aditya Birla Fashion and Retail (Rs 13,155.73 crore) and Aditya Birla Money (Rs 547.71 crore).
Among Indian conglomerates, the Tata group remains on the top in terms of total valuation of listed firms with about Rs 8,46,567 crore (USD 132.5 billion).
There are 29 pu…