Nifty hits new lifetime high at 12,151
Mumbai: Benchmark stock indices extended their record-breaking run for the second day on Thursday, propped up by gains in index heavyweights ICICI Bank and Reliance Industries, which became the first Indian firm to breach the Rs 10-lakh crore market valuation mark.
The 30-share Sensex rose to an all-time high (intra-day) of 41,163.79 before setting up by 109.56 points or 0.27 per cent at 41,130.17 -- its record closing high.
The broader NSE Nifty closed at a fresh life-time high of 12,151.15, up by 50.45 points or 0.42 per cent over the previous close.
Reliance Industries (RIL) became the first Indian company to settle above the Rs 10 lakh crore market valuation mark, ending 0.65 per cent higher.
Vinod Nair, Head of Research at Geojit Financial Services, said, "Market stayed positive despite expiry led volatility & the announcement of GDP data tomorrow as investors got a sense that increasing global liquidity will provide support in every consolidation."
Sustained inflow of foreign investment and short covering amid the expiry of November derivatives contracts also contributed to the rally, traders said.
"For the month of November so far, foreign inflows in the cash segment have totalled $2 billion, while FII positioning in index futures has turned to net long after a gap of six months.
Moreover, FII stock futures positions are also expected to have the highest-ever month-ending net long position.
This points to a strong external flow environment, and historically, such instances have led to follow-on strength in the market in December as well," S Hariharan - Head - Sales Trading, Emkay Global Financial Services.
Broader BSE midcap and smallcap indices rose up to 0.97 per cent. BSE telecom, metal, realty, teck and capital goods indices rose up to 3.49 per cent. BSE auto index ended in the red.
On the currency front, the rupee depreciated 27 paise against the $ to 71.62. Brent crude, the global oil benchmark, fell 0.62 per cent to $62.62 per barrel in futures trade.