Led by heavyweights and few other PSUs Q3 result announcement, Sensex and Nifty continued their surging streak on Monday to close at 35798.01 and 10966.20 respectively. With this Nifty is inching close to 11000 mark, another winning streak for the stock markets.
On the back of good quarter for the refinery major as well as attainment of profitability for its Jio business in a span of just 9 months, made the scrip of RIL rally in intraday trade on Monday by over 4% which last made such huge gains in November 2017.
TCS also moved upwards in trade by over 5% and closed at Rs. 3113.15 given the favourable landscape and weakening rupee vis a vis dollar. As per brokerages, even if the market corrects by as much as 10% which is highly anticipated given the peaks the market has reached, the IT sector shall remain unaffected and continue to reap gains for the investors.
On the backdrop of increased price, the market cap of RIL and TCS surged to Rs. 6.18 lakh crore and Rs. 6.1 lakh crore respectively in yesterday's trade.