Rising for the sixth straight session, the BSE Sensex gained over 67 points to trade over the 22,000 level in early trade today on sustained fund inflows.
The 30-share index, which had surged 988 points in the previous five sessions, gained 67.24 points, or 0.30 per cent, to trade at 22,002.07 with banking, power, realty and capital goods sector stocks leading the rising streak.
The 50-share NSE Nifty also edged higher by 23.45 points,or 0.35 per cent, to 6,560.70.
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Brokers said buying activity gathered momentum as foreign funds and retail investors engaged in enlarging their positions in several stocks having strong fundamentals on expectations of better industrial production data for January, to be released tomorrow which helped the BSE Sensex to trade above the 22,000 level.
Besides, a mixed trend on other Asian bourses also generated buying by funds, they said.
Among other Asian markets, Japan’s Nikkei rose 0.39 per cent while Hong Kong’s Hang Seng shed 0.14 per cent in early trade today.
BSE Sensex gains 0.4 pct to record high as banks rally
(Reuters) India’s NSE index rose 0.3 percent to a third consecutive record high as lenders such as ICICI Bank extended a powerful rally on the back of signs of an improving domestic economy and hopes that easing inflation will keep interest rates steady.
Foreign investors have been the main buyers of shares, with net purchases reaching 12.54 billion rupees ($206 million) on Monday, marking a 17th consecutive buying session for a net total of about $1.6 billion, according to exchange data.
The NSE index rose as much as 0.39 percent to a record high of 6,562.85 points, and was up 0.19 percent at 0405 GMT.
The benchmark BSE index was up 0.16 percent, not far from its record high of 22,023.98 points hit on Monday.
Lenders were the leading gainers, with the NSE bank sub-index up 0.93 percent. ICICI Bank Ltd, India’s biggest private sector lender, rose 2.2 percent.