Mumbai: The BSE Sensex recovered by over 157 points and the Nifty scaled a record high in early trade on widespread buying by investors and funds, triggered by a firm trend in Asian markets.
On the first trading day of the new quarter, the 30-share index rose 157.97 points, or 0.53%, to 29,778.47, with sectoral indices auto, bank, oil&gas, consumer durables and capital goods advancing by up to 0.71%.
Major gainers that supported the upmove were Reliance (4.23%), Gail (1.63%), L&T (1.10%), Tata Motors (0.70% and M&M (0.57%). Meanwhile, Infosys slipped by 0.53% on fresh differences between the founders and Board of the company.The gauge had lost 26.92 points in the previous session.
ALSO READ: Samajwadi Party’s spokesperson Gaurav Bhatia joins BJP
The NSE Nifty regained the 9,200-mark by rising 46.90 points, or 0.51%, to trade at record high of 9,220.65.
Brokers said fresh buying by investors and funds amid a firming trend in Asian markets as traders look ahead for the US job data release and a meeting between the American and Chinese presidents later in the week.
Hong Kong’s Hang Seng index rose 0.44% and Japan’s Nikkei was up 0.36 per cent in early trade. Shanghai Composite remained closed on Monday.
The US Dow Jones Industrial Average, however, ended 0.31% lower in Friday’s trade.