Reliance Industries and financial stocks gained

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Reliance Industries

BENGALURU, Dec 28 (Reuters) – Indian shares hit a record high on Monday as Reliance Industries and financial stocks gained, while investor sentiment remained upbeat globally due to U.S. President Donald Trump approving a $2.3 trillion stimulus package he had been threatening to veto.

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The NSE Nifty 50 index .NSEI was up 0.7% at 13,844.75 by 0347 GMT, while the S&P BSE Sensex .BSESN was 0.71% higher at 47,307.78. Both indexes hit record highs.

Broader Asian shares rose at the start of the final trading week of 2020 as a source said Donald Trump signed into law a pandemic aid and spending package, averting a partial federal government shutdown in the United States. MKTS/GLOB

In Mumbai, all the main Nifty sub-indexes were up in early trade.

HDFC Bank HDBK.NS and Reliance Industries RELI.NS were the top two boosts to the Nifty 50.

The Nifty PSU banking index .NIFTYPSU , which tracks India’s state-owned lenders, rose more than 1% led by a 2% rise in Central Bank of India CBI.NS .

Shares of India’s most valuable company, Reliance Industries, gained 1.1%. Reliance said it would buy out IMG Worldwide LLC from its sports management joint venture for about $7 million. = 73.5560 Indian rupees

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