NSE hits record high on foreign buying

Mumbai: NSE index rose to a record high on Wednesday, led by blue-chip gains on continued foreign-investor buying.

The broader index rose 0.53% to hit a record high at 7,809.20, surpassing its previous all-time high of 7,808.85 hit on July 8.

The BSE index rose as much as 0.62% to 26,188.64, just shy of its all-time high at 26,190.44

Indian shares have risen 27.44% in US dollar terms this year, the second best performer in Asia. Overseas investors bought Indian shares worth Rs 4.12 billion ($68.6 million) on Tuesday, marking inflows of $620.86 million over five consecutive days of buying, exchange and regulatory data showed.

Among the major blue-chips, ICICI Bank shares rose 1.5%, while software exporters Infosys Ltd and Tata Consultancy Services Ltd were up 2.4% and 1.6% respectively. Hindalco Industries gained 2%.

Bank of Baroda gained 3% after the central bank removed the stock from its caution list, making it eligible to be bought by foreign investors. However, ING Vysya Bank fell 3.4% after April-June net profit declined 18 p

 

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