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BW Businessworld

Markets Scale New Peaks On Fund Inflows

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Surpassing all previous records, the benchmark BSE Sensex and NSE Nifty hit their new lifetime highs to 28,260.66 and 8,447.40 respectively in early trade on Tuesday (18 November) on sustained foreign capital inflows, driven by positive domestic and global cues.

The 30-share index spurted by 82.78 points, or 0.29 per cent, to new peak of 28,260.66. The gauge had gained 237.24 points in the previous two sessions.

The National Stock Exchange index Nifty also rose by 16.65 points, or 0.19 per cent, to trade at a fresh high of 8,447.40.

The BSE Sensex had recorded its earlier intra-day high of 28,205.71 and the Nifty clocked its peak of 8,438.10 in Monday's trade.

Continued buying by funds and retail investors amid cooling inflation and falling global fuel prices influenced trading sentiments, brokers said, adding these factors have raised hopes of a rate cut by the RBI and further economic reforms by the government.

Besides, a firming trend at other Asian bourses too supported the rising trend, they said.

All the sectoral indices led by capital goods and oil & gas were trading in positive zone with gains up to 0.87 per cent.

Among other Asian markets, Japan's Nikkei was up by 1.68 per cent, while Hong Kong's Hang Seng rose by 0.30 per cent in early trade on Tuesday.

The US Dow Jones Industrial Average rose 0.07 per cent to close at a new high in Monday's trade.