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Indian equity benchmarks surged to new record highs on Friday led by heavyweight Reliance Industries, shrugging off a cautious mood in global markets ahead of key US employment data. Buying interest in automobile, metal and oil & gas shares boosted investors' sentiment. Broader markets also supported gains on Dalal Street.
The S&P BSE Sensex index rose 277.41 points or 0.48 percent to end at 58,129.95 and the broader NSE Nifty50 benchmark climbed 89.45 points or 0.52 percent to finish at 17,323.60 -- both record closing highs. The Sensex and Nifty50 indices hit lifetime highs of 58,194.79 and 17,340.10 during the session respectively.
Among blue-chip stocks, Reliance Industries, ONGC, Coal India, Titan, Indian Oil, Hero MotoCorp and BPCL -- ending between 2.34 per cent and 4.15 percent higher -- were among the top gainers. Asian Paints, Britannia and six other Nifty50 stocks hit all-time highs.
On the other hand, HDFC Life, Cipla, Bharti Airtel, HIndustan Unilever, HDFC and HDFC Bank, closing between 0.78 percent and 3.29 percent lower, were the worst hit among 17 laggards in the Nifty50 universe.
Reliance Industries shares closed at a record high, taking the oil-to-telecom conglomerate's market capitalisation back above the Rs 16 lakh crore mark, after Chairman Mukesh Ambani said his group has started developing a green energy complex in Jamnagar with an investment of Rs 75,000 crore. RIL was the the biggest mover for both Sensex and Nifty50, contributing 80 percent to the gain in the 50-scrip benchmark.
The billionaire also said Reliance would create or enable at least 100 GW of renewable energy by 2030 as part of the government's goal of 450GW. He was addressing the International Climate Summit 2021.
State-run oil explorer ONGC's shares gained 3.71 percent amid large volumes as crude prices continued to rise. State-run oil marketing companies Indian Oil and Bharat Petroleum rose 2.68 percent and 2.39 percent respectively.
Investors around the globe awaited US jobs data, due later in the day, to ascertain the pace and timing of the Federal Reserve's tapering of asset purchases.
HDFC Life Insurance shares ended 3.28 percent lower at Rs 733.90 apiece on BSE after the company said it would buy the life insurance unit of battery maker Exide Industries for Rs 6,687 crore. Exide Industries shares rose 6.34 percent to Rs 189.55.
In broader markets, the midcap index jumped to a record closing high. Prestige, L&T Tech Services, Exide, Linde and Blue Dart were among the top gainers, whereas Sanofi, Cholamandalam Finance, RITES, IEX and Sterling & Wilson were among the top losers.
Overall market breadth was mildly positive as 1,726 stocks rose and 1,474 fell on BSE.
European stocks were largely lower as focus shifted to US employment data and amid concerns about slowing Chinese growth. The pan-European STOXX 600 index was last seen trading down 0.1 percent. S&P 500 E-Mini futures were up 0.20 percent, indicating a positive start ahead in the US.