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The benchmark indices
settled at their record closing highs on Tuesday taking positive cues from
global markets after the United States and Mexico agreed to overhaul the
North American Free Trade Agreement.The S&P BSE Sensex settled at a fresh record closing high of 38,897, up 203
points, while the broader Nifty 50 index closed at a new high of 11,739, up 47 points. In intra-day
deals, the S&P BSE Sensex hit
a new all-time high of 38938.91. The Nifty50 index, on the other hand, touched
its record high level of 11,760.20.
Among individual stocks, market
heavyweight Reliance Industries (RIL) settled a new all-time high of Rs 1,323,
up 2.4 per cent.In sectors, the Nifty Metal index settled 1.8 per cent higher led by
a rise in the share prices of Vedanta, JSW Steel and Hindalco
Industries.Mukesh Ambani-led Reliance
Industries (RIL) may be disrupting yet another industry, this time as a
consumer. RIL's shift from being a major supplier of petcoke to a consumer may
change the way cement companies source their fuel and of what kind.As part of a
larger strategy, RIL has set up a petcoke gasification project where it is
likely to use its own petcoke production and also buy more from other
producers. Industry analysts peg the incremental buy at about four million
tonnes.Shares of Jet Airways ended
with a gain of 4.5 percent on Tuesday despite the company reported weak numbers
in the quarter ended June 2018.The company has reported net loss at Rs 1,323 crore in Q1FY19
against profit of Rs 53.5 crore in the same quarter last fiscal.Revenue was up 6.4% at Rs 6,010.5 crore against Rs 5648.9 crore.
Q1 EBITDA loss was at Rs 1,018.4 crore versus EBITDA of Rs 88.1 crore.The company to focus on looking at raising funds, also to focus
on cost cutting measures, raise revenues through monetisation.Broking house SBICAP has maintained hold rating on Jet Airways with target of
Rs 335 with a potential upside of 19 percent.
TOP GAINERS:HINDALCO,VEDL,RELIANCE
MAJORLOOSERS: GAIL,YESBANK,DRREDDY
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