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Sensex, Nifty at lifetime highs on fund inflows

Thursday, 3 April 2014 - 10:03am IST | Place: Mumbai | Agency: PTI

Continuing their record-setting spree, the benchmark BSE Sensex and NSE Nifty climbed to hit new record-highs in early trade on Thursday on sustained foreign fund inflows amid a firming trend overseas.

The 30-share Sensex shot up by 69.16 points, or 0.30 %, to quote at yet another record-high of 22,620.65, surpassing its previous intra-day record high of 22,592.10 touched yesterday. Also, the 50-share NSE Nifty gained 24.20 points, or 0.35 %, to touch a new record-high of 6,776.75. Brokers said buying momentum picked up further on sustained capital inflows by foreign funds, driven by positive domestic and overseas cues that helped the key indices to hit new record highs.

Major gainers which contributed to the rally were Dr Reddy, Infosys, Reliance Industries, Sesa Sterlite, Sun Pharma, Cipla, Bajaj Auto, Maruti Suzuki, Tata Motors and Tata Steel. Stocks of infrastructure finance company IDFC shot up by 4.18 % to Rs 133.35 after the RBI granted in-principle approval for new bank licence.

Among other Asian markets, Hong Kong's Hang Seng rose 0.63 %, while Japan's Nikkei rose by 0.42 % in early trade today. The US Dow Jones Industrial Average ended 0.24 % higher in on Wednesday's trade as private jobs growth picked up.

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