NewDelhi: The BSE benchmark Sensex hit its all-time high of 31,602.50 in early trade Monday amid positive cues from Asian markets.
Optimism over quarterly corporate earnings coupled with covering-up of short positions also lift the index too.
After opening strong, the 30-share index rose further by 234.83 points, or 0.74 percent, to hit a new peak of 31,602.50, breaking its previous life-time high (intra-day) of 31,522.87 reached on June 22. The gauge had shed 8.71 points on Friday.
All sectoral indices led by technology, IT, realty, PSU, healthcare and bank were in the green. Major gainers were Bharti Airtel, TCS, Lupin, Sun Pharma and Wipro, surging by up to 3.73 percent.
Price quotations for individual stocks listed on India`s National Stock Exchange were not updating on Monday morning and investors could not place trades, in a problem that appeared to be widespread, Reuters has reported quoting four dealers.
Meanwhile, the rupee strengthened by 8 paise to 64.52 against the dollar on fresh selling of the US currency by banks and exporters.
Asian stocks rallied today, lifted by Wall Street`s strong performance on Friday, while the US dollar extended gains made after much stronger than expected June employment data.
MSCI`s broadest index of Asia-Pacific shares outside Japan advanced 0.55 percent while Japan`s Nikkei rose 0.7 percent.
Australian stocks were up 0.6 percent and South Korea`s KOSPI added 0.4 percent. Hong Kong`s Hang Seng gained 1 percent, though China`s bluechip shares were flat.
On Friday, Wall Street closed higher after US jobs growth beat forecasts. However, a lag in wage increases led investors to bet wage data would limit the extent of the Federal Reserve`s hawkishness.
The Nasdaq led gains with a 1 percent jump, while the S&P 500 added 0.6 percent and the Dow Jones Industrial Average rose 0.4 percent.
Bureau Report
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