RIL up 9% in Nifty's 350-point July rally. SBI gains 5%, Tata Motors up 7%

STOCK MARKET NEWS - The Nifty50 index rallied over 350 points or nearly 4% in July so far with Reliance Industries contributing most in the gains.

RIL, which holds over 7% weightage in the benchmark index, contributed over 9% to the index so far in July. The stock surged as much as 9.5% to Rs 1,511 on NSE till Wednesday. By comparison, the Nifty50 advanced 3.8% or 361 points to 9,816 during the same period.

The index, continuing its record-breaking spree for the fourth straight session, hit its lifetime high of 9,885.15 in intraday trade today. At 11:00 am, the Nifty50 was trading at 9,881, up 65 points.

The other stocks that contributed in the Nifty rally include Bharti Infratel, ACC, Lupin, BPCL, IndusInd Bank and Tata Motors, which gained in the range of 6% to 12% so far in July.

Meanwhile, three stocks - Cipla, Axis Bank and Bajaj Auto - quoted in the negative during the same period.