Sensex, Nifty hit record high on global market rally, foreign fund inflows
The Hindu
Sensex & Nifty surge to all-time highs on global optimism & FII inflows. Nifty poised to reach 21,500.
Benchmark equity indices Sensex and Nifty surged to all-time high levels in early trade on Friday amid an optimistic trend in global markets after the US Federal Reserve kept its key interest rate unchanged and signalled rate cuts next year.
Continuous foreign fund inflows into the equity markets also fuelled the rally in stocks.
The 30-share BSE Sensex jumped 339.36 points to 70,853.56, its all-time high level, in early trade. The Nifty climbed 115.45 points to reach its record peak of 21,298.15.
Among the Sensex firms, JSW Steel, Infosys, Tata Steel, HCL Technologies, Tata Consultancy Services, Sun Pharma, Tata Motors and Reliance Industries were the major gainers.
Nestle, Axis Bank, Kotak Mahindra Bank and UltraTech Cement were among the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading with gains.
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