Markets continue golden run: BSE Sensex up 100 pts, NSE Nifty above 8,100

Continuing its rising streak for the ninth straight session, the benchmark BSE Sensex rose over 129 points to hit a new high of 27,148.90 in opening trade today on sustained foreign capital inflows coupled with a firming trend on other Asian bourses.

The 30-share index, which had gained over 705 points in the previous eight sessions, gathered another 129.51 points, or 0.47 per cent, to trade at a new peak of 27,148.90, surpassing its earlier record of 27,082.85 touched yesterday (intra-day).

All the sectoral indices, led by teck, consumer durables, infrastructure and oil & gas, were trading in positive territory with gains up to 0.93 per cent.

Maintaining its record-breaking spree, the NSE Nifty also shot up by another 36.75 points, or 0.45 per cent, to hit a fresh life-time high of 8,119.80, crossing its previous record of 8,101.95 hit yesterday.

Software stocks gained after bullish US manufacturing and construction data. Infosys gained 1.7 percent and Tata Consultancy Services (TCS) was up 1.8 per cent. Oil retailers also gained after Brent crude slumps to 16-month low. Hindustan Petroleum Corporation Ltd (HPCL) was up 2.3 per cent, while Indian Oil Corp gained 2.2 per cent.

Brokers said sentiments remained buoyant with key indices soaring to new highs on sustained foreign capital inflows and widespread buying by retail investors, driven by positive economic data such as better-than-expected GDP growth in first quarter and narrowing CAD.

Besides, positive global factors with crude oil prices falling to multi-month lows and a firming trend on other Asian markets boosted investor sentiments, they said.

Buoyed by revival in GDP growth and a dip in the current account deficit for the quarter ended June 2014, the benchmark Sensex at the Bombay Stock Exchange on Tuesday crossed the 27,000 mark, a day after the Nifty at NSE hit the 8,000-level milestone.

Continuing its surge for the eighth straight session, the Sensex closed at 27,019 on Tuesday. The index has risen by 700-points or 2.7 per cent in the eight sessions. Replicating the surge, the Nifty too closed at a new high of 8,083.

The BSE bellwether had breached the 22,000 mark for the first time on March 24, 2014, and by surpassing the 27,000-mark for the first time on Tuesday, it has crossed six milestones over six months.

Among other Asian markets, Japan's Nikkei rose 0.82 per cent, while Hong Kong's Hang Seng gained 0.15 per cent in early trade today.

The US Dow Jones Industrial Average, however, closed 0.18 per cent lower in yesterday's trade.