Sensex surges over 300 pts to hit lifetime high

Equity benchmark BSE Sensex rallied over 300 points to hit its lifetime high of 41,262.88 in morning trade on Tuesday led by gains in IT, metal and financial stocks amid positive cues from global equities and sustained foreign fund inflow.

After surging 324 points, the 30-share index was trading 292.28 points or 0.71 per cent to 41,231 at 1045 hours. Similarly, the broader Nifty inched closer to its record peak of 12,158.80. It was trading 78.15 points or 0.65 per cent higher at 12,132.10.

Tata Steel was the top gainer in the Sensex pack rising up to 3.24 per cent, followed by Vedanta, Infosys, Yes Bank, TCS, Maruti and Axis Bank.

On the other hand, Sun Pharma was the top loser, shedding up to 1.09 per cent. ONGC, NTPC, Bajaj Auto and PowerGrid were also trading in the red.

In the previous session, the 30-share gauge ended 70.99 points or 0.17 per cent down at 40,938.72, while the Nifty finished 32.75 points or 0.27 per cent lower at 12,053.95.

According to traders, domestic equities rallied on global optimism over the US-China trade truce.

Foreign fund inflow too boosted market mood here, they said.

On a net basis, foreign institutional investors bought equities worth Rs 728.13 crore, while domestic institutional investors sold shares worth Rs 796.38 crore, data available with stock exchange showed on Monday.

Bourses in Hong Kong, Shanghai, Tokyo and Seoul were trading significantly higher in their respective afternoon sessions.

Benchmark indices on Wall Street ended at record peaks on Monday.

Brent futures, the global oil benchmark, fell marginally to USD 65.33 per barrel.

Meanwhile, the rupee appreciated 3 paise against the US dollar to 70.97 in morning session.