Reliance hits fresh peak, Sensex rallies over 400 pts.

Sensex reclaiming the 37,000 in opening session, the more 30-share BSE Sensex was trading 413.03 factors, or 1.13 percent, higher at 37,007.36.

In similar movement, the NSE Nifty jumped 123.35 points, or 1.15 percent, to 10,891.40.

Reliance Industries was the top gainer at the Sensex pack, jumping more than 2 per cent to reach its record high of Rs 1,938.80 percent share, after the company said it has procured Rs 730 crore from wireless technology leader Qualcomm by selling a small wager in Jio Platforms.

Adding to a ton of investments since April that’s spanned Rs 1.18 lakh crore, Qualcomm Ventures” investment will translate to 0.15 percent equity stake at Jio Platforms on a fully diluted basis.

On the other hand, Bharti Airtel and HDFC have been the laggards.

In the prior session, the BSE barometer finished 143.36 points, or 0.39 percent, reduced at 36,594.33. The NSE Nifty drop 45.40 points, or 0.42 per cent, to close 10,768.05.

Foreign institutional investors were net sellers at the capital market on Friday, offloading stocks worth 1,031 crore, provisional exchange data revealed.

According to dealers, besides stock-specific activities, positive cues from international markets too buoyed investor opinion here.

Bourses at Shanghai, Hong Kong, Tokyo and Seoul were trading with important gains amid hopes of a better earning period.

Meanwhile, international oil benchmark Brent crude stocks fell 0.74 per cent to USD 42.92 per barrel.