Sensex hits record-high in opening trade
The benchmark BSE Sensex climbed to a new record-high of 25,732.87 in opening trade on Wednesday on sustained foreign fund inflows and buying by retail investors after Finance Minister said the government would take bold decisions in the forthcoming Budget to revive the economy.
The 30-share index, which had rallied by 453.68 points in the past three sessions, spurted by another 216.52 points, or 0.84 per cent, to trade at a fresh record high of 25,732.87, surpassing previous record of 25,725.12 reached on June 11. All the sectoral indices, led by metals, realty, capital goods and power, were trading in the positive territory with gains up to 1.44 per cent.
The National Stock Exchange Nifty surged 59.55 points, or 0.77 per cent, to trade at 7,694.25. Brokers said sentiments bolstered after the Finance Minister Arun Jaitley on Tuesday said the government would take bold decisions in the forthcoming Budget and pursue the path of fiscal prudence to revive the economy.
Besides, an uptick in manufacturing sector growth in June and signs of pick-up in auto sales amidst a firming trend in the global markets, triggered buying by retail investors.
Among other Asian markets, Hong Kong’s Hang Seng rose by 0.59 per cent, while Japan’s Nikkei moved up by 0.52 per cent in early trade on Wednesday. The U.S. Dow Jones Industrial Average rose 0.77 per cent to close at a record high in Tuesday’s trade.