File photo of a Reliance Industries hoarding.
Credit: Reuters Photo
New Delhi: Shares of Reliance Industries jumped 4 per cent on Wednesday, taking its market valuation to more than Rs 20 lakh crore and helping benchmark indices close at record high levels.
The market bellwether stock climbed 4.09 per cent to settle at Rs 3,027.40 on the BSE. During the day, it zoomed 4.41 per cent to hit the record high of Rs 3,037.
On the NSE, it soared 3.87 per cent to Rs 3,021.10.
The company's market valuation jumped Rs 80,359.48 crore to Rs 20,48,282.28 crore. Reliance Industries is the country's most valued firm by market capitalisation (mcap).
The sharp jump in the stock was instrumental in driving the equity markets higher.
The 30-share BSE Sensex climbed 620.73 points or 0.80 per cent to settle at a new closing peak of 78,674.25. During the day, it rallied 705.88 points or 0.90 per cent to hit a fresh all-time high of 78,759.40.
Reliance Industries alone added 352 points to the rise in Sensex.
The Nifty went up by 147.50 points or 0.62 per cent to settle at a record closing peak of 23,868.80. Intra-day, it surged 168.6 points or 0.71 per cent to hit the fresh lifetime high of 23,889.90.
So far this year, the blue-chip stock climbed over 17 per cent.
In volume terms, 7.23 lakh shares of the company were traded on the BSE on Wednesday and 110.07 lakh shares on the NSE during the day.