Sensex, Nifty scale new highs in opening trade on FII buying

Mumbai: The benchmark BSE Sensex climbed to a new record-high of 28,294.01 in opening trade as investors indulged in enlarging positions amid continued overseas capital inflows and positive economic data. The 30-share index, which had shed 14.59 points in yesterday's trade, bounced back by 130.72 points, or 0.46 per cent, to trade at fresh record-high of 28,294.01 points, breaching previous peak of 28,282.85 touched in yesterday's trade.

All the sectoral indices, led by capital goods, power and auto, were trading in the positive territory with gains up to 0.77 per cent. On similar lines, the National Stock Exchange index Nifty spurted by 29.75 points, or 0.35 per cent, to scale a new peak of 8,455.65, surpassing its earlier record-high of 8,454.50, touched yesterday.

Brokers said trading sentiment remained upbeat on sustained buying by foreign funds and retail investors, supported by economic reforms undertaken by the government, easing inflation and falling global crude oil prices. Besides, encouraging quarterly earnings by several blue-chip companies, mixed trend at other Asian bourses and overnight gains in the US markets, boosted sentiments. Among other Asian markets, Hong Kong's Hang Seng index fell by 0.31 per cent, while Japan's Nikkei moved up by 0.23 per cent in early trade today. The US Dow Jones Industrial Average ended 0.23 per cent higher in yesterday's trade.