The BSE Sensex hit a record high of 31,802.03 in opening trade and later, it was trading 62.91 points, or 0.20 per cent, higher at 31,778.55. The Nifty 50 kissed the 9800 mark, and made an all-time high of 9,800.90 in early trade. The index moved from 9,500 to 9,800 in just 8 sessions. Frontline indices extended gains to open at fresh highs for second day in a row
tracking positive cues from the global markets.Gains were however capped as investors remianed cautious as they waited for Federal Reserve Chair Janet Yellen;s testimony for clues on when the central bank would tighten the US monetary policy. Sensex rose as much as 126 points to hit the record high of 31,842, surpassing its previous milestone of 31768.39 hit yesterday while Nifty gained as much as 43 points to hit 9,814, surpassing the last high of 9,772 hit yesterday.
At 10:13 am, the S&P BSE Sensex was trading at 31,795, up 80 points while the broader Nifty50 was ruling at 9,803 up 32 points In the broader market, the S&P BSE Midcap was little changed while S&P BSE Smallcap index rose 0.4%. Infosys, TCS, Tata Motors, M&M and HUL contributed the most on BSE Sensex while Cipla, Bharti Airtel, ONGC, ITC and Dr Reddy’s shed the most on the index.
State Bank of India gained 1% after said its central board approved dilution of its stake in its life insurance arm through an initial public offer for which it has already secured the sectoral regulatory approval. Bharti Airtel lost 1.3% after the company said it will be investing Rs 2,000 crore over three years in the launch of various digital offerings even as the telco gears up to launch Voice over LTE (VoLTE) across the country by the end of this year.
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