Reliance Industries powers Sensex to new closing high

Indian shares edged higher on Thursday to record close, driven by index heavyweight Reliance Industries Ltd which became the country’s first company to cross 8 trillion rupees ($114.14 billion) in market capitalisation.

However, losses in financials and oil marketing companies capped the gains.

The benchmark BSE Sensex closed 0.13 percent higher at 38,336.76, while the broader NSE Nifty ended up 0.1 percent at 11,582.75.

Shares of Reliance Industries ended 1.8 percent higher, while Larsen & Toubro Ltd gained over 2 percent.

Among losers, HDFC Bank declined 0.8 percent.