Mumbai Jan 23 (IANS) Key Indian equity indices on Tuesday climbed to new highs as investor sentiments were uplifted by bullish global cues combined with fresh inflows of foreign funds and buying support in metals banking and oil and gas stocks.
Market observers said the sentiments were uplifted on projection of India s healthy economic growth outlook along with optimism over the Union Budget to be presented next week.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE surged over 300 points to scale a record intra-day high of 36 147.75 points.
At 12.45 p.m. the index traded at a new high of 36 064.20 points -- up 266.19 points or 0.74 per cent -- from its Monday s close at 35 798.01 points.
However the BSE market breadth was bearish as 1 461 stocks declined as against 1 362 advances.
At the National Stock Exchange (NSE) the broader Nifty50 traded firmly above the 11 000-mark -- up 92.55 points or 0.84 per cent at 11 058.75 points.
The NSE Nifty50 scaled a new intra-day high of 11 087.70 points.
"Investors received a boost from International Monetary Fund s projection that India could emerge as the fastest-growing country in the world in 2018 at 7.4 per cent amid optimism over Prime Minister Narendra Modi s address to the World Economic Forum. Also investors expectation from the Union Budget helped the market to reach new highs " said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
On Monday the Nifty50 closed at 10 966.20 points while the Sensex closed at 35 798.01 points.
--IANS
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