Sensex Closes At All-Time High, Nifty Holds Above 11,100 Points

A man watches Indian Indian stock market indices on a display screen on the facade of the Bombay Stock Exchange (BSE).

(Photo: AP)

Extending Monday’s rally, the benchmark BSE Sensex jumped over 150 points to record a new high of 36,869.34 in early trade on Tuesday, 24 July on strong Asian cues amid buying by domestic institutional investors (DIIs).

The market rally was driven by strong activity on the metal, oil and gas, PSU, infrastructure, banking, FMCG and capital goods counters, rising up to 0.88 percent.

The 30-share BSE index spurted by 150.74 points, or 0.41 percent, to hit a new high of 36,869.34, surpassing its previous record of 36,749.69 clocked on Monday. The gauge has gained 367.37 points in the past two sessions.

It continued its record setting spree for a second day as it gained 106.50 points to close at fresh peak of 36,825.10.

The 50-share NSE Nifty also rose 41.15 points, or 0.37 percent, to 11,125.90. It finished at fresh record high of 11,134.30, up 49.55 points or 0.45 per cent, as 32 of its 50 scrips gained.

The 50-issue index surpassed its previous record closing of 11,130.40 hit on 29 January.

Sustained FII inflows and fresh spell of buying by domestic institutional investors supported the stocks at record levels. Besides, encouraging first quarter earnings by some more companies and firming trend in global markets too bolstered trading sentiments.

Brokers said

Major gainers include Maruti Suzuki, Tata Motors, HUL, M&M, Tata Steel, Adani Ports, L&T, ICICI Bank, Coal India, IndusInd Bank, HDFC Bank, Infosys, Power Grid, Kotak Bank, SBI, Asian Paints, HDFC, Axis Bank, Sun Pharma and ITC, rising up to 1.42 percent.

Foreign portfolio investors (FPIs) bought shares worth a net of Rs 259.37 crore and DIIs bought shares worth a net of Rs 124.82 crore yesterday, provisional data showed.

Traders said positive cues from other Asian markets and sustained foreign capital inflows, influenced sentiments here.

Japan's Nikkei rose 0.60 percent, Shanghai Composite Index 1.59 percent and Hong Kong's Hang Seng 1.50 percent in early trade.

The US Dow Jones Industrial Average ended 0.06 percent lower yesterday and Nasdaq closed up 0.28 percent.