Bourses surge as Reliance Industries' telecom wing announces tariff hike
Mumbai/IBNS: Riding on the gains made by Reliance industries, the markets today surged significantly with Sensex reaching all-time high level and Nifty 50 claiming the psychologically important level of 12000.
The Sensex appreciated 346 points to reach 40,816 while Nifty 50 hit an intraday high of 12,039.
With Reliance Industries' market capitalization increasing to approximately Rs10 lakh crore, the Nifty 50 basket improved significantly.
Reliance Industries gained 2.79% to Rs 1,551.90 after Reliance Jio declared plans to hike mobile tariffs.
The top gainers of the day included Tata Consultancy Services, Larsen & Toubro, IndusInd Bank, Bharti Airtel, ONGC and ICICI Bank, apart from telecom companies Bharati Airtel and Vodafone Idea, which had earlier announced an increase in tariff.
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