Mumbai Jan 18 (IANS) Key Indian equity indices traded at fresh highs during the mid-afternoon session on Thursday with both the BSE Sensex and Nifty50 scaling record intra-day highs as well.
Market observers said investors sentiments were uplifted by positive global cues along with inflow of foreign funds and upbeat quarterly corporate earnings.
The wider Nifty50 of the National Stock Exchange traded firmly above the vaunted 10 800-mark. Around 1 p.m. the index surged by 87.75 points or 0.81 per cent to trade at a fresh level of 10 876.30 points.
The Nifty50 has so far scaled a record level of 10 887.50 points during intra-day trade.
On the BSE the barometer 30-scrip Sensitive Index (Sensex) which opened at 35 366.45 points traded at a new high of 35 482.15 points -- up 400.33 points or 1.14 per cent -- from its previous session s close.
The Sensex has touched a fresh intra-day high of 35 507.36 points so far.
However the BSE market breadth was bearish as 1 596 stocks declined as compared to 1 171 advances.
"Indian shares opened higher on Thursday -- a fresh record opening for both benchmark indices -- due to overseas funds inflow following favorable fiscal third quarter corporate earnings amid positive global cues " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.
"The benchmark indices rallied after reports indicate that the government allowed 100% foreign direct investment in the banking sector " he added.
Healthy buying was observed in banking auto and FMCG stocks.
On Wednesday the benchmark indices rose to new highs riding on optimism around quarterly corporate earnings along with an upward rally in banking stocks and healthy inflow of foreign funds.
The Sensex closed above the 35 000-mark at a high of 35 081.82 points after touching an intra-day high of 35 118.61 points.
The Nifty50 which scaled a high of 10 803 points intra-day rose 88.10 points or 0.82 per cent to close at 10 788.55 points.
--IANS
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