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  5. Sensex hits record high at 300 points in early trade, Nifty at 22,593 points

Sensex hits record high at 300 points in early trade, Nifty at 22,593 points

The 30-share BSE Sensex jumped 307.22 points to reach a record high of 74,555.44 while the NSE Nifty climbed 79.6 points to 22,593 in early trade.

Edited By: Hritika Mitra @MitraHritika New Delhi Published on: April 08, 2024 10:31 IST
Sensex, Nifty, NSE, BSE,
Image Source : FILE From the Sensex basket, Tata Steel, Bajaj Finserv, Power Grid, Reliance Industries, Axis Bank and JSW Steel were the major gainers.

Benchmark equity indices climbed in early trade on Monday, with the Sensex and Nifty reaching record highs, amid optimism in global markets and foreign fund inflows.

Buying in index major Reliance Industries also fuelled the rally in equities. The 30-share BSE Sensex jumped 307.22 points to reach a record high of 74,555.44 in early trade. The NSE Nifty climbed 79.6 points to 22,593.30.

Later, the Nifty climbed to its new all-time peak of 22,623.90 and the BSE benchmark scaled a fresh lifetime high of 74,658.95. From the Sensex basket, Tata Steel, Bajaj Finserv, Power Grid, Reliance Industries, Axis Bank and JSW Steel were the major gainers. Wipro and HDFC Bank were the laggards.

In Asian markets, Seoul and Tokyo were trading in the positive territory while Shanghai and Hong Kong quoted lower. Wall Street ended with gains on Friday. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,659.27 crore on Friday, according to exchange data.

"Optimism prevails on Dalal Street as investors prioritize the anticipation of strong Q4 corporate profits in India over the Fed's rate-cut plans," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Global oil benchmark Brent crude declined 1.61 per cent to USD 89.71 a barrel.

(With input from PTI)

ALSO READ | Sensex, Nifty end at fresh all-time high ahead of RBI monetary policy outcome

ALSO READ | Indian economy to grow at 7.5 per cent in 2024, projects World Bank

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