Sensex, Nifty hit record high on strong global markets, foreign fund inflows

Mumbai: Benchmark equity indices Sensex and Nifty hit their new record highs on Monday amid optimism and foreign fund inflows in global markets. Buying in index leader Reliance Industries also boosted the gains in equities. The 30-share BSE Sensex closed at a new closing high of 74,742.50, up 494.28 points or 0.67 per cent. During the day, it rose 621.08 points or 0.83 per cent to hit a record intra-day high of 74,869.30. NSE Nifty rose 152.60 points or 0.68 per cent to 22,666.30. During the day, it jumped 183.6 points or 0.81 percent to hit an all-time high of 22,697.30. Maruti, Mahindra & Mahindra, NTPC, JSW Steel, Larsen & Toubro, Reliance Industries, Axis Bank and Power Grid were major gainers on the Sensex.

Nestle, Wipro, Tata Consultancy Services, HDFC Bank, Titan, HCL Technologies and Infosys were among the laggards. Among Asian markets, Seoul, Tokyo and Hong Kong remained in the positive zone while Shanghai closed lower. European markets were trading in positive territory. Wall Street ended Friday with gains. According to exchange data, foreign institutional investors (FIIs) bought equities worth Rs 1,659.27 crore on Friday. Global oil benchmark Brent crude fell 0.81 percent to $90.43 a barrel. “Sentiments continued to remain buoyed by sectoral tailwinds and Q4 earnings growth expectations. The bullish momentum was largely broad-based with outperformance by Auto, Realty, Oil & Gas and Consumer Discretionary, while IT was muted due to slower Q4 growth expectations due to a slowdown in spending,” said research head Vinod Nair. , Geojit Financial Services.

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