Mumbai: The benchmark BSE Sensex extended its record run by rising over 200 points in early trade Thursday led by gains in index heavyweight RIL ahead of its earnings.
Investor sentiment was also boosted by unabated foreign fund inflow, experts said.
After hitting a lifetime high (intra-day) of 39,487.45, the 30-share index was trading 136.38 points or 0.35 per cent higher at 39,412.02. The NSE Nifty too soared to another record high of 11,856 in early session.
In the previous session Tuesday, the BSE bourse marked its lifetime closing high of 39,275.64. Similarly, the broader Nifty too settled at a new record closing level of 11,787.15.
According to Sunil Sharma, Chief Investment Officer at Sanctum Wealth Management, robust foreign inflows have been the primary reason behind a steep rally in Indian markets over the last few weeks. “Earnings growth and election outcome will be key monitorables going forward.”
Foreign institutional investors (FIIs) purchased equity worth Rs 1,038.58 crore Tuesday, and domestic institutional investors (DIIs) bought equities to the tune of Rs 37.22 crore, provisional data available with stock exchanges showed.
Shares of RIL rallied over 2.30 per cent, adding more that 100 points to the gains on Sensex. The company is scheduled to release its Q4 results later in the day.
Other gainers in the Sensex pack include Tata Motors, Asian Paints, Hero MotoCorp, HDFC, ICICI Bank, Axis Bank, Maruti, TCS, HDFC Bank and HCL Tech, rising up to 2.04 per cent.
On the other hand, Yes Bank, Vedanta, SBI, Tata Steel, Bharti Airtel, IndusInd Bank and Infosys were the top losers, shedding up to 2.38 per cent
Meanwhile, the rupee appreciated marginally to 69.60 against the US dollar in early trade.
Brent crude futures, the global oil benchmark, was 0.08 per cent lower at USD 71.56 per barrel.
Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading in the red in early trade.
PTI
