Sensex, Nifty hit new highs; RIL, NTPC among top gainers in early trade

28 August 2018, 10:50 AM

The Sensex on Tuesday continued its positive trend for the second straight session, opening the day with all-time high of 38,875.86 up by 182 points with top gainers including Reliance and NTPC among others.  The broader NSE Nifty too hit a record high of 11,751.20. Strong global cues apart from heavy buying by domestic institutional investors lifted the key indices to new highs.

The markets sentiments remained extremely bullish as Asian bourses also recorded a positive trend. The trading sentiment was also boosted by better liquidity in the market on fresh inflows by foreign funds, according to traders and brokers. Also, heavy gains in metal, power, tech, healthcare and IT, fertilisers and sugar stocks added to the push in the uptrend.

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The 30-share BSE index soared 181.75 points, or 0.46 per cent, to trade at an all-time high of 38,875.86, surpassing its previous high of 38,736.88, recorded in Monday’s trade. The gauge had gained 442.31 points yesterday to close at record high of 38,694.11. All sectoral indices led by metal and power packs were trading in the positive zone, rising up to 0.95 per cent.

The NSE index Nifty too hit a new high of 11,751.20 by gaining 59.25 points, or 0.50 per cent. It also breached previous record of 11,700.95 (intra-day) hit yesterday.

Top Gainer: Index heavyweight Reliance Industries was quoting at an all-time high of Rs 1,304.30. Other top gainers were NTPC, Coal India, Vedanta, Sun Pharma, Asian Paints, Tata Steel, PowerGrid, ONGC, IndusInd Bank, Kotak Bank, HDFC, Tata Motors, Bharti Airtel and TCS, gaining up to 3.37 per cent.

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Domestic institutional investors had bought shares a worth a net of Rs 1,117.24 crore, while FIIs accumulated equities to the tune of Rs 252.52 crore on Monday, according to the provisional data.

Meanwhile, in Asia, Hong Kong’s Hang Seng was up 0.27 per cent, while Japan’s Nikkei rose 0.39 per cent and Shanghai Composite Index gained 0.01 per cent in early trade today. The US Dow Jones Industrial Average ended 1.01 per cent higher on Monday.

(With inputs from agencies)

First Published: Tuesday, August 28, 2018 10:06 AM
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