October 18, 2019 / 4:45 AM / a month ago

Sensex ends higher; Reliance Industries touches record high

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai, March 4, 2015. REUTERS/Shailesh Andrade/Files

BENGALURU (Reuters) - Indian shares closed higher on Friday, led by gains in metal and state-owned banks while India’s most valuable company, Reliance Industries Ltd, jumped to a record high during the session ahead of its September-quarter results announcement.

The broader NSE Nifty ended 0.65% higher at 11,661.85, while the benchmark BSE Sensex finished up 0.63% at 39,298.38. For the week, the NSE Nifty was up 3.16% and the BSE Sensex was 3.07% firmer.

Investors were looking forward to a better-than-expected quarterly result from Reliance for the three months ended September 30 on the back of last month’s corporate tax cut.

Reliance’s shares ended 1.42% higher, after surging as much as 2.25%. The company became the country’s first to reach a market cap of 9 trillion rupees ($126.51 billion) during the session.

Meanwhile, the NSE state-owned banks index closed up 1.43%, while the NSE metals index rose 1.87%.

Yes Bank’s shares jumped 8.44% and topped the gainers list on the Nifty.

Zee Entertainment was the top loser of the day and fell 5.39%.

Reporting by Derek Francis in Bengaluru; editing by Uttaresh.V

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