Sensex hits record peak of 40,435; Nifty nears 12K

Top gainers in the Sensex pack included Vedanta, Tata Steel, ICICI Bank, Tata Motors, SBI, HCL Tech, Sun Pharma and Bharti Airtel, rising up to 3.20 per cent.

On the other hand, Yes Bank, Infosys, Hero MotoCorp, Bajaj Auto and HUL fell up to 4.80 per cent.

In the previous session, the 30-share Sensex settled 35.98 points, or 0.09 per cent, higher at 40,165.03. The Nifty advanced 13.15 points, or 0.11 per cent, to close at 11,890.60.

Foreign institutional investors (FIIs) purchased a Rs 533.37 crore in the capital market, on Friday, while domestic institutional investors sold shares worth Rs 136.50 crore, data available with stock exchange showed.

According to experts, better liquidity from FIIs and mutual funds will maintain a positive sentiment in the market given de-escalation in geopolitical risks and focus on upcoming reforms to revive growth.

Globally, bourses in Shanghai, Hong Kong and Seoul were trading higher on optimism over the US-China trade deal after China’s commerce ministry on Saturday announced that top Chinese and US trade negotiators “reached consensus on principles”.

Shares on Wall Street too ended higher after data showing the US economy continued to add jobs at a steady clip despite turbulence from the trade war with China.

The rupee, meanwhile, appreciated by 16 paise to 70.65 against the US dollar in early trade on Monday as easing crude prices and sustained foreign fund inflows strengthened investor sentiments.

Market participants said higher opening in domestic equity market, and hopes for a US-China trade deal also supported the local currency.

At the interbank foreign exchange, the rupee opened strong at 70.55, registering a rise of 26 paise over its previous close of 70.81. It, however, pared some gains and was trading at 70.65 against the dollar in morning trade.

On Friday, the rupee had finished at 70.81 against the US currency.

Brent crude futures, the global oil benchmark, fell 0.52 per cent to USD 59.69 per barrel.