Equity benchmark Sensex jumped over 200 points to scale a fresh intra-day record in early trade on August 25, tracking gains in index majors HDFC, Reliance Industries and ICICI Bank.
After touching a lifetime high of 56,188.49 in the opening session, the 30-share index was trading 211.23 points or 0.38% higher at 56,170.21. Similarly, the broader NSE Nifty advanced 67.75 points or 0.41% to 16,692.35.
Tata Steel was the top gainer in the Sensex pack, rising around 1%, followed by NTPC, L&T, HDFC, Nestle India, ICICI Bank and Bajaj Finserv.
On the other hand, Titan, Tech Mahindra, HCL Tech, Asian Paints and Dr. Reddy’s were among the laggards.
In the previous session, Sensex ended 403.19 points or 0.73% higher at its lifetime peak of 55,958.98, and Nifty surged 128.15 points or 0.78% to its all-time closing high of 16,624.60.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth ₹1,644.91 crore on August 24, as per provisional exchange data.
“The resilience in global equities continues with the Nasdaq and S&P 500 closing at fresh record highs. In India market momentum and sectoral rotation are taking the indices higher,” said V.K. Vijayakumar, chief investment strategist at Geojit Financial Services.
The Jackson Hole Symposium and the U.S. Fed chief’s commentary expected on August 27, will be keenly watched by global markets. If the Fed commentary indicates an earlier-than-expected tapering, FIIs are likely to press further sales. Investors may wait and watch, he noted.
Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul were trading in the red in mid-session deals, while Shanghai was positive.
Meanwhile, international oil benchmark Brent crude fell 0.62% to $69.97 per barrel.
