Mumbai: Projection of India's healthy economic growth outlook, along with bullish global cues lifted the key Indian equity indices to their new highs during the early morning trade session on Tuesday.
Accordingly, the S&P BSE Sensex and the NSE Nifty50 breached their previous respective intra-day high levels.
In the process, the barometer Sensex crossed the 36,000-points-mark and the NSE Nifty50 climbed above 11,000 points.
Market analysts pointed-out other factors such as positive Q3 results and buying support in oil and gas, banking, capital goods and consumer durables stocks aided in the key indices' upward trajectory.
At 9.50 a.m., the 30-scrip S&P BSE Sensex, which had closed at 35,798.01 points on Monday, traded higher at 36,036.51 points, up by 238.50 points or 0.67 percent.
At the National Stock Exchange (NSE), the broader Nifty50 quoted at 11,039.75 points, up by 73.55 points or 0.67 percent.
Reacting to the record highs in Sensex Deepak Jasani, Head- Retail Research, HDFC Securities said: “Nifty touched 11000 in trade today, gaining the last 1000 pints in about 6 months. The Sensex rose to touch 36000 mark today gaining the last 1000 points in 4 days. The bull run in the equity markets continues in India. The turnaround in the Industrial/economic growth in October 2017 along with big policy announcements related to Bank recap and Bharatmala led to a good upmove in Oct 2017. In Jan 2018, we are witnessing FIIs returning to the buy side in a big way after a break. The forthcoming Budget could aid in determining the future direction of markets from hereon”.
(With IANS inputs)
Published Date: Jan 23, 2018 10:23 AM | Updated Date: Jan 23, 2018 11:21 AM