Sensex, Nifty leap to new record highs on funds inflow
Raising the bar, the Sensex shot up another 181 points on Tuesday to a fresh all-time intra-day high of 30,503 and the Nifty 9,482, with retail investors steering the ship amid unabated foreign capital inflows.
Encouraging earnings also supported the rally. The 30-share BSE index leapt 181.36 points, or 0.60%, to trade at a new record 30,503.48, surpassing its previous milestone of 30,366.43 (intra-day) touched on May 11. The gauge had rallied 134 points in the previous session.
The National Stock Exchange index Nifty did not disappoint either, gaining another 36.90 points, or 0.39%, to hit a new high of 9,482.30, breaching its previous intra-day high of 9,450.65 hit on May 11.
All the BSE sectoral indices led by technology, power, FMCG, IT, consumer durables and healthcare were in the positive terrain, with gains of up to 0.66%. Tata Steel was on a bull run and added 0.82% as investors widened their exposure ahead of its quarterly earnings due later in the day and on the government’s decision to impose anti-dumping duty on some steel products.
Other major gainers that supported the key indices were Bharti Airtel (2.78%), RIL (1.89%), TCS (1.46%), Dr Reddy’s (1.30%), Tata Motors (1.17%) and ITC (1.05%). Sentiment remained upbeat …read more