Sensex hits new record-high of 27,493.59; Nifty crosses 8,200

The BSE Sensex and the NSE Nifty soared to hit new all-time highs of 27,493.59 and 8,214.65 points, respectively, in opening trade today on sustained fund inflows, driven by a slew of economic reforms announced by the government amidst optimism over strong corporate earnings. Rising for the fourth straight day, the 30-share index flared up by 147.26 points, or 0.53%, to hit a new peak of 27,493.59.

Sensex hits new record-high of 27,493.59; Nifty crosses 8,200

The gauge had gained 593.43 points in previous three sessions to close at record-high yesterday at 27,346.33 in yesterday’s session. It had also touched an intra-day lifetime high of 27,390.60 in the previous session.

All the sectoral indices, led by IT, capital goods and healthcare, were trading in positive zone with gains up to 1.49 %.

The 50-share NSE Nifty crossed the 8,200-mark for the first instance to record its lifetime high of 8,214.65 by rising 45.45 points, or 0.55%. It had touched an intra-day high of 8,181.55 in yesterday’s trade.

Brokers said continued buying by foreign funds as well as retail investors, triggered by a series of economic reforms undertaken by the Narendra Modi-led government and strong earnings by blue-chip companies, lifted the key indices to new highs.

Stocks of Maruti Suzuki climbed 0.40% to Rs 3,255 after the company reported a 28.69% growth in net profit at Rs 862.54 crore for the second quarter ended September 30, 2014.

Besides, a firming trend in the global markets on robust US economic data also boosted sentiment, they said. Among the 30-Sensex stocks — Infosys, Dr Reddy, HDFC, HDFC Bank, Hero MotoCorp, ITC, L&T, M&M, ONGC, RIL and SBI – were the top performers during initial trade. Among other Asian markets, Japan’s Nikkei rose 1.68%, while Hong Kong’s Hang Seng gained 0.89% in early trade today.

The US Dow Jones Industrial Average closed 1.30% higher in yesterday’s trade.