Sensex breaches 28,000-mark in early trade; Nifty at 8,363.65

Sensex and Nifty hits record high on sustained fund inflows

Mumbai: The benchmark BSE Sensex breached 28,000-mark for the first time and the NSE Nifty hit a new peak of 8,363.65 in early trade on sustained fund inflows amidst optimism over encouraging corporate earnings.

Besides, falling global crude oil prices which dipped to its lowest closing point since October 2011 also influenced trading sentiments, brokers said. The 30-share index flared up by 141.57 points, or 0.50 per cent, to hit a new peak of 28,001.95, surpassing previous intra-day record of 27,969.82 reached on Monday.

The gauge had shed 5.45 points in the previous session. Markets remained closed yesterday on account of "Muharram". All the sectoral indices, led by realty, consumer durables and power, were trading in positive zone with gains up to 1.50 per cent. Breaching all previous records, the 50-share NSE Nifty gained 39.50 points, or 0.47 per cent, to hit a new lifetime high of 8,363.65. It had touched the intra-day lifetime high of 8,350.60 on Monday.

Marketmen said persistent inflow of foreign funds and sustained buying by retail investors, buoyed by a series of economic reforms undertaken by the government and better-than-expected earnings by blue-chip companies, lifted the key indices to new highs. Prominent gainers among the 30 Sensex stocks were Bajaj Auto, BHEL, Cipla, ITC, L&T, SBI, Sun Pharma, TCS, Tata Motors and Tata Power.

Among other Asian markets, Japan's Nikkei fell 0.21 per cent, while Hong Kong's Hang Seng shed 0.62 per cent in early trade today. The US Dow Jones Industrial Average closed 0.10 per cent higher in yesterday's trade.

( Source : PTI )
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