Mumbai: The benchmark Sensex today closed at its 3-month high of 14,299.71, up by 172 points, as shares continued their upward sprint following sharp rally in petrochem giant Reliance and firm global cues.
Heavyweight Reliance Industries Ltd (RIL) was the most sought after stock and closed with sharp gains of 3.09%, keeping the bullish tempo upbeat for the second consecutive day.
The counter touched an all-time high of 1,688.15 during the trade, on the back of heavy buying after it struck natural gas in the Krishna-Godavari basin and Gujarat-Saurashtra basin on 12 May.
Banking counters continued their north-bound journey on the passage of State Bank of India Subsidiary Bank (Amendment) Bill by the Lok Sabha and expectations of easing interest rates in anticipation of further fall in inflation.
The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, opened strong at 14,217.36 from yesterday’s close of 14,127.31 and rallied further to a high of 14,352.98 before concluding the day at 14,299.71, a sharp rise of 172.40 points or 1.22%. Previously, the Sensex had closed at 14,402.90 on 19 February.
The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) touched a high of 4,232.45, just a few points away from an all-time peak of 4,245.30 logged on 2 February.
It closed above 4,200-mark at 3-1/2 month high of 4,219.55 from the previous close of 4,170.95, a smart rally of another 48.60 points or 1.17%.