Sensex hits all-time high of 40,344 in early trade, Nifty 50 crosses 11,900
Infosys and the State Bank of India were the biggest gainers.
The BSE Sensex, one of India’s benchmark share indices, hit an all-time high of 40,344.99 points in early trade on Thursday. The National Stock Exchange Nifty 50 gained 75.90 points to reach 11,920 at 11.30 am, less than 200 points away from breaching its record high.
Both indices rose over 0.6% due to a massive foreign fund inflow and the United States Federal Reserve’s decision to reduce its interest rates for the third straight time. Lower interest rates in the United States are expected to encourage investors to come to emerging markets such as India’s.
At 11.30 am, the Sensex was up 264.26 points at 40,316.13. The biggest gainers were Infosys, State Bank of India, Tata Motors, Sun Pharmaceuticals and Yes Bank, while the shares that lost the most were Axis Bank, Tata Steel, Mahindra & Mahindra, Tech Mahindra and ITC.
On the Nifty 50, the top gainers were Zee Entertainment, Infosys, State Bank of India, GAIL and Tata Motors. The top losers were Bharti Infratel, Tata Steel, Mahindra & Mahindra, Axis Bank and Tech Mahindra.
The rupee gained 10 paise against the US dollar to trade at 70.80 in early session.
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