Sensex, Nifty hit record peaks in early trade

Equity benchmark BSE Sensex jumped 129 points to hit its lifetime high of 41,480.91 in early trade on Wednesday tracking gains in index heavyweights TCS, HDFC Bank, Infosys and RIL amid unabated foreign fund inflow.

After scaling its record peak, the 30-share index pared some gains to trade 106.90 points or 0.26 per cent higher at 41,459.07 in morning session.

Similarly, the broader Nifty hit its all-time (intra-day) high of 12,199.05 in opening session. It was trading 19.55 points or 0.16 per cent higher at 12,184.55.

Tata Motors was the top gainer in the Sensex pack rising up to 1.86 per cent, followed by Tata Steel, Tech Mahindra, M&M, TCS, Vedanta and Infosys.

On the other hand, HUL was the top loser, shedding up to 1.45 per cent. Yes Bank, ICICI Bank, SBI and ONGC were also trading in the red.

In the previous session, the 30-share gauge settled 413.45 points, or 1.01 per cent, higher 41,352.17 -- its fresh closing peak. The 50-scrip Nifty soared to its new intra-day high of 12,182.75 before ending 111.05 points, or 0.92 per cent, up at 12,165 -- a record closing level.

According to traders, foreign fund inflow boosted market mood here.

Investors were also seen optimistic ahead of the GST Council meet amid expectations of positive outcome from the same, analysts said.

On a net basis, foreign institutional investors bought equities worth Rs 1,248.47 crore, while domestic institutional investors sold shares worth Rs 908.16 crore, data available with stock exchange showed on Monday.

Bourses in Hong Kong, Shanghai, Tokyo and Seoul were trading on a negative note. Benchmarks on Wall Street ended at record peaks on Tuesday.

Brent futures, the global oil benchmark, fell 0.45 per cent to USD 65.80 per barrel.

Meanwhile, the rupee depreciated 9 paise to 71.08 against the US dollar in morning session.