Continuing their record-breaking spree, markets today hit new highs with the BSE Sensex scaling another peak of 29,456.63 and the NSE Nifty soared to 8,878.20 in opening trade on sustained capital inflows. Besides, markets were buoyed by optimism over upcoming Budget and quarterly earnings amidst positive domestic factors and mixed global cues.
The benchmark BSE Sensex climbed by 177.79 points, or 0.60 per cent, to trade at a new high of 29,456.63, breaking its previous record of 29,408.73 reached on Friday. Stocks of capital goods, power, consumer durables, auto, FMCG, banking, infrastructure and realty sectors led the rally and rose up to 2.11 per cent. The benchmark index had gained 1,932.02 points in the previous seven sessions.
The National Stock Exchange index Nifty spurted by 42.60 points, or 0.48 per cent, to hit a new peak of 8,878.20, surpassing its previous intra-day high of 8,866.40 touched on Friday.
Stock exchanges remained closed yesterday on account of “Republic Day”. Brokers said sentiments remained upbeat on sustained capital inflows amidst optimism over upcoming Budget and corporate earnings amidst Prime Minister Narendra Modi promising an open business environment and predictable tax regime in his meeting yesterday with US President Barack Obama. Stocks of Maruti Suzuki were in good demand and rose by 1.42 per cent ahead of its quarterly earnings later in the day. Among other Asian markets, Hong Kong’s Hang Seng was down by 0.83 per cent while Japan’s Nikkei rose 1.04 per cent in early trade today. The US Dow Jones Industrial Average ended 0.03 per cent higher in yesterday’s trade.