Sensex hits fresh all-time high of 31,595 on positive Asian stocks
The benchmark Sensex today soared 235 points to hit an all-time high of 31,595 after quarterly corporate earnings optimism gave domestic institutional and retail investors much hope to go in for fresh bets. Blue-chip TCS is scheduled to announce its quarterly results on July 13.
After opening strong, the 30-share index rose further by 234.83 points, or 0.74 per cent, to hit a new peak of 31,595.46, breaking its previous life-time high (intra-day) of 31,522.87 reached on June 22.
The gauge had shed 8.71 points on Friday. All sectoral indices led by technology, IT, realty, PSU, healthcare and bank were in the green, gaining up to 1.58 per cent.
The broader NSE’s Nifty, too, set a new record by hitting 9,765.90 points in early hours. The Indian rupee trades stronger against the US dollar.
Covering-up of short positions helped lift the index too. A mixed trend at other Asian bourses following a rally on Wall Street on Friday on the back of forecast-busting US jobs data cheered investors here.
Major gainers were Bharti Airtel, TCS, Lupin, Sun Pharma and Wipro, surging by up to 3.73 per cent.
Hong Kong's Hang Seng firmed up 0.95 per cent while Japan's Nikkei rose 0.68 per cent. Shanghai Composite, however, fell 0.39 per cent in early trade today.
The US Dow Jones Industrial Average closed 0.44 per cent higher on Friday.