Global cues, earnings propel equity indices to fresh highs

Key Indian equity indices scaled record highs on Wednesday as positive global cues, coupled with a strong rupee, healthy quarterly results and robust buying activities in banking, metals and FMCG stocks, gave a boost to investor sentiments.

Both the indices breached their earlier record levels, both on closing and intra-day basis, scaled on October 30.

The broader Nifty50 of the National Stock Exchange (NSE) rose by 105.30 points, or 1.02 per cent, to provisionally close (at 3.30 p.m.) at a fresh high of 10,440.60 points -- cracking its earlier closing high level of 10,363.65 points.

On an intra-day basis, the Nifty50 scaled a new high of 10,451.65 points, surpassing its previous high of 10,384.50 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE too closed at a fresh high of 33,600.27 points -- surging 387.14 points or 1.17 per cent -- higher than its earlier record closing at 33,266.16 points.

The Sensex touched a high of 33,651.52 points during intra-day trade, breaching its previous record high of 33,340.17 points.

The BSE market breadth was bullish -- 1,526 advances and 1,271 declines.

On Tuesday, the benchmark indices closed on a flat-to-negative note as investors booked profits in metals, automobile and IT stocks.

The Nifty50 closed lower by 28.35 points, or 0.27 per cent, at 10,335.30 points, while the Sensex closed at 33,213.13 points -- down 53.03 points or 0.16 per cent.

--IANS

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