Nifty 50 Index moved above its previous record high of 11,760.20 last seen in August 2018.
The SP BSE Sensex and NSE Nifty 50 Indexes rose to new record highs as foreign institutional investors continue to buy shares in Indian markets.
Gains in today's session were paced by buying interest in Tata Motors, Tata Steel, IndusInd Bank, Maruti Suzuki and HDFC.
The NSE Nifty 50 Index surged as much as 0.41 per cent or 48 points to an all-time high of 11,761 and the SP BSE Sensex climbed as much as 197 points or 0.50 points to 39,253.67.
The Nifty 50 Index moved above its previous record high of 11,760.20 last seen in August 2018.
Here are 10 things to know:As of 9:36 am, the Sensex traded 0.47 per cent or 185 points higher at 39,242 and the NSE Nifty 50 Index rose 0.33 per cent or 39 points to 11,752.Foreign institutional investors have been buying shares in the Indian equity markets since the last two months.
In March, the foreign portfolio investors bought shares worth Rs 33,980.56 crore on top of shares they bought worth Rs 17,220 crore in February, according to data compiled by NSDL."Indian markets played a catch up with the global peers after 4-5 months of underperformance as global liquidity found its way to emerging markets and India was a beneficiary of that after global central banks turned accommodative and dovish," Ajay Bagga, executive chairman at OPC Asset Solutionstold TheIndianSubcontinent.Brightening prospects of Prime Minister Narendra Modi and his ruling Bharatiya Janata Party returning to power also boosted the investor confidence, traders said.In the Nifty 50 basket of shares, 30 were trading higher while19 were among the losers.Indiabulls Housing Finance, InducInd Bank, Tata Motors, Adani Ports, HDFC, Bharti Airtel, JSW Steel, Yes Bank and Maruti Suzuki were among the gainers.On the other hand, Bharat Petroleum, Indian Oil, Eicher Motors, Infosys, Tech Mahindra, Zee Entertainment and Britannia Industries were among the laggards.Eight of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty PSU Bank Index's 0.8 per cent gain.
Financial Services, Realty, Bank, Private Bank and Auto Indexes on the NSE also rose between 0.6 and 0.8 per cent each.On the flipside, measures of Media, Information Technology and Pharma shares were trading lower.Mid- and small-cap shares were also witnessing buying interest as the Nifty Midcap 100 Index advanced 0.51 per cent and the Nifty Smallcap 100 Index rose 0.42 per cent.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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