BSE Sensex hit record high; foreign buying boosts blue chipshttps://indianexpress.com/article/business/market/bse-sensex-hit-record-high-foreign-buying-boosts-blue-chips/

BSE Sensex hit record high; foreign buying boosts blue chips

BSE Sensex rose as much as 1.1 per cent to an all-time high of 22,040.72 points

The BSE Sensex jumped nearly 138 points in early trade today as stocks across the board gained on sustained buying by funds amid a firm trend on other Asian bourses.

The 30-share index rose 137.66 points, or 0.63 per cent, to 21,947.46 with all sectoral indices, led by auto, metal and banking gaining up to 1.48 per cent. The index had gained 35.19 points in the previous session on Friday.

The wide-based NSE Nifty moved up by 47.35 points, or 0.73 per cent, to 6,551.55.

Stock market remained closed yesterday for ‘Holi’.

Brokers said sustained buying by funds and retail investors following a firming trend on other Asian bourses tracking overnight gains on the US market after data showing industrial output increased more than expected in February, mainly buoyed the trading sentiment here.

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Shares of country’s largest car-maker Maruti Suzuki soared 9.37 per cent to Rs 1,899.90 after the company decided to seek approval of minority shareholders for controversial Gujarat plant, which it’s parent Suzuki Motor Corp had decided to takeover from it.

Other major gainers were Axis Bank (1.62 per cent), HDFC Bank (1.47 per cent), ICICI Bank (1.15 per cent), Bajaj Auto (1.03 per cent), Bharat Heavy Electricals (2.56 per cent), * GAIL (1.91 per cent), Infosys (0.31 per cent) and Reliance Industries (1.53 per cent).

In the Asian markets, Hong Kong’s Hang Seng rose by 0.50 per cent, while Japan’s Nikkei was up by 1.08 per cent in early trade today.

The US Dow Jones Industrial Average gained 1.13 per cent in yesterday’s trade.

(Reuters) – BSE Sensex hit a record high on Tuesday as continued strong buying by foreign investors boosted blue chips, while Maruti Suzuki India surged after agreeing to seek minority approval for a plan by promoter Suzuki Motor Corp to set up a plant in India.

India’s broader NSE Nifty gained as much as 1.1 percent to a record high of 6,574.95 points, surpassing its previous record high of 6,562.85 points hit on March 11.

Meanwhile, the benchmark index rose as much as 1.1 percent to an all-time high of 22,040.72 points, surpassing its previous record of 22,023.98 hit on March 10.

Maruti Suzuki Ltd gained as much as 9.8 percent after the auto maker said on Saturday it would seek minority shareholder approval for a plan to outsource production at a new factory to its largest shareholder, Suzuki Motor Corp, after its leading investors opposed the move.