Mumbai: Equity Benchmark Sensex rose more than 300 points in opening trading to reach a high level of fresh life on Tuesday, tracking up in the ICICI Bank heavyweight index, HDFC Bank and M & M regardless of global trends.
After touching a record of 60,621.72, Sensex 30-shares traded 261.17 points or 0.43% higher at 60,545.48.
Similarly, Nifty jumped 97.75 points or 0.54% to the new intra-day peak of 18,089.70.
M & M is the top enhancer in the sensex package, rallying more than 3%, followed by PowerGrid, Bharti Airtel, L & T, Bank ICICI and Axis Bank.
On the other hand, Nestle India, Hul, HCl Tech, SBI and Tata Steel are among sluggish.
In the previous session, the 30-stock index ended 148.53 points or 0.25% higher on the record of 60,284.31, and Nifty rose 46 points or 0.26% to the top of the new closure of 17,991.95.
Foreign Institution Investors (FIIS) are clean sellers in the capital market because they lowered the shares worth RS 278.32 Crore on Tuesday, according to data exchange.
Domestic equity looks good at this time, said Binod Modi Modi AT Reliance Securities said.
“Sharp contractions in CPI’s print of 4.35% for September despite the increase in oil prices and continuous IIP growth (growth of 11.5% for August) certainly offered convenience.
We also believe that 2QFY22 company revenue will be quite important for the market,” he said.
Retail inflation fell to a five-month low of 4.35% in September from 7.27% in the past year due to the price of vegetables and other items declined.
Industrial production grew 11.9% in August mainly due to low effects and good performance by manufacturing, mining and the electrical sector that exceeded the pre-covid level.
In the US, the equity market was contracted for the third day in a row in a choppy trading day ahead of crucial inflation data and September quarter revenue.
Elsewhere in Asia, the stock exchange in Shanghai and Tokyo traded with losses in the middle of the middle agreement, while Seoul was positive.
Meanwhile, Brent Crude’s international oil benchmark fell 0.31% to $ 83.16 per barrel.
Sensex rallies more than 300 points; Nifty near level 18,100
