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Sensex Jumps Over 200 pts; Nifty Nears 15,200

Mumbai: Equity benchmark Sensex jumped over 200 points to scale fresh lifetime high in early trade on Tuesday, led by gains in index heavyweights Infosys, Reliance Industries and HCL Tech amid positive global cues and unabated foreign fund inflows. The 30-share BSE index was trading 233.30 points or 0.45 per cent higher at its record intra-day peak of 51,582.07.

Similarly, the broader NSE Nifty rose 70.10 points or 0.46 per cent to its lifetime high of 15,185.90. HCL Tech was the top gainer in the Sensex pack, surging around 2 per cent, followed by Infosys, Titan, Asian Paints, ONGC, Reliance Industries and Tech Mahindra. On the other hand, SBI, Bajaj Finserv, Bajaj Finance, Axis Bank and IndusInd Bank were among the laggards.

In the previous session, Sensex ended 617.14 points or 1.22 per cent higher at its record closing peak of 51,348.77, and Nifty surged 191.55 points or 1.28 per cent to its lifetime closing high of 15,115.80. Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 1,876.60 crore on Monday, as per exchange data.

According to Binod Modi Head-Strategy at Reliance Securities, domestic equities continue to look good at the moment. “Union Budget has given an undisputed reason to investors to cheer, which helped the market to see a northward journey in this month.” On the global front, US equities extended gains and recorded fresh highs led by a sharp rebound in energy stocks, strong corporate earnings and emerging prospects of higher fiscal stimulus.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with gains in mid-session deals. Meanwhile, the global oil benchmark Brent crude was trading 0.51 per cent higher at USD 61.01 per barrel.

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