Sensex, Nifty close at lifetime high levels on earnings optimism
Key stock indices Sensex and Nifty rose to close at life-time high levels on Tuesday after robust buying in engineering, capital goods, metal and realty shares boosted by encouraging quarterly earnings by companies.
Benchmark BSE Sensex continued its record setting streak for a second day, rising by 106.50 points to close at fresh peak of 36,825.10 as index heavyweight Larsen & Toubro, Infosys and HDFC advanced.
The 30-share index also scaled a new record trading high of 36,902.06 points in day trade. It had hit its previous record intraday high of 36,749.69 on Monday.
The broader NSE Nifty also finished at fresh record high of 11,134.30, up 49.55 points or 0.45%, as 32 of its 50 constituents gained. The 50-issue index surpassed its previous record closing of 11,130.40 hit on January 29.
Larsen & Toubro rose the most by 3.36% among Sensex scrips after its IT arm L&T Infotech Ltd posted a strong 35%year-on-year growth in net profit at ₹361.2 crore on Monday.
Asian Paints, Vedanta Ltd, Adani Ports and Infosys also advanced up to 2.3%, helping the index scale record high levels.
“Market extended the rally on prospects of earnings growth and positive global market. In the last trading sessions, FII’s inflows improved marginally while oil prices dropped and respite was seen in mid & small cap after recent underperformance,” Vinod Nair, head of research, Geojit Financial Services Ltd said. Sustained FII inflows and fresh spell of buying by domestic institutional investors supported the stocks at record levels, brokers said.
MUMBAI: