Sensex scales new high in early trade, gains nearly 400 points; Nifty at fresh peak of 10,887

Mumbai: The BSE Sensex continued its record-setting spree for a second day, scaling a new high of 35,476.70 in opening trade today as banking stocks led rally on sustained foreign fund inflows. Also, the broader NSE Nifty zoomed to a new high of 10,887.10.

The 30-share index rallied by 394.88 points, or 1.12 percent, to hit the peak of 35,476.70, breaching its previous intra-day high of 35,118.61 hit yesterday.

Foreign investors put in Rs 625.13 crore in stocks on net basis yesterday, while domestic institutional investors bought shares worth Rs 168.61 crore, provisional data showed.

All the sectoral indices, led by banking, FMCG and capital goods were trading in the positive zone with gains up to 1.92 percent.

 Sensex scales new high in early trade, gains nearly 400 points; Nifty at fresh peak of 10,887


The 50-share NSE Nifty gained 98.55 points, or 0.91 percent, to trade at lifetime high of 10,887.10. The gauge had touched an intra-day high of 10,803 in yesterday's trade.

In the banking space, Yes Bank, IndusInd Bank, SBI, Axis Bank, Kotak Bank, ICICI Bank and HDFC Bank were prominent gainers.

Stocks of Hindustan Unilever were up by 0.81 percent to Rs 1,382.95 after the company posted better-than-expected earnings yesterday.

Hero MotoCorp, M&M, L&T, Dr Reddy's, ITC Ltd, Bajaj Auto, ONGC and Sun Pharma were the other gainers during initial trade.

Brokers said continued buying by foreign funds as well as retail investors after the government's decision to slash its additional borrowing requirement for the current fiscal to Rs 20,000 crore from Rs 50,000 crore, estimated earlier and encouraging Q3 earnings by some bluechip companies lifted the
key indices to new highs.Besides, a firm trend in the global markets also boosted sentiments, they said.

Among other Asian markets, Hong Kong's Hang Seng gained 0.41 percent, while Japan's Nikkei rose 0.46 percent in early trade today. Shanghai Composite Index rose 0.32 percent.

The US Dow Jones Industrial Average closed 1.25 percent higher in yesterday's trade.

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Updated Date: Jan 18, 2018 11:10:04 IST