New Delhi: Sensex on Wednesday rallied 347 points to hit record intra-day high, driven by heavyweights like Reliance Industries.

Other top gainers included IndusInd Bank, Sun Pharma, L&T, Bharti Airtel, TCS, Maruti and Bajaj Finance.

The rally in telecom stocks was resulted by Reliance Jio’s announcement that along with Bharti Airtel and Vodafone, it will increase tariffs in an appropriate way over the next few weeks.

A day earlier, Reliance became the first Indian company to cross-market capitalisation of Rs 9.5 lakh crore after its stock rallied over 3 per cent intra-day to hit a fresh all-time high.

Asian shares stumbled amid conflicting messages on the US-China trade talks. Late Tuesday, US President Donald Trump had threatened to raise tariffs further if China does not agree to a deal that he liked.

The mood in share markets was subdued with MSCI’s broadest index of Asia Pacific shares outside Japan off 0.7 per cent. Japan’s Nikkei fell by 0.8 per cent and Shanghai blue chips by 0.3 per cent.

(With Agency Inputs)