Sensex, Nifty touch record highs on foreign, local cues

Positive foreign and local cues helped a benchmark index of Indian equities markets touch a new record high of 28,514.98 points Monday.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) surpassed its earlier recorded high of 28,360.66 points hit Nov 21, as parliament began its winter session.

The markets are keenly watching any developments on further reforms like Goods and Service Tax (GST) and land acquisition norms that may be announced during the winter session.

The sentiments were also bullish on hopes of early passage of bills that aim to increase the cap on foreign capital participation in sectors like insurance.

Following international cues, markets were cheered by news emanating from China and Europe where stimulus programmes are going to be continued.

Healthy buying was observed in banking, information technology (IT), metal, capital goods and technology, entertainment and media (TECK), while selling pressure was seen in healthcare and fast moving consumer goods (FMCG) sectors.

The 30-scrip Sensitive Index of the BSE opened at 28,413.01 points and closed trade at 28,499.54 points (provisionally), up 164.91 points or 0.58 percent from the previous day's close at 28,334.63 points.

The Sensex touched a high of 28,514.98 points and a low of 28,394.48 points in the intra-day trade.

The S&P bank index gained by 243.66 points, IT moved up by 202.70 points, metal index was up 182.79 points, capital goods index increased by 135.54 points and TECK index index rose 84.75 points.

However, healthcare stocks closed 66.604 points down, followed by FMCG index which dropped by 19.93 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) too closed at a record high.

Nifty closed at a new high of 8,530.15 points -- up 52.80 points or 0.62 percent.