Sensex hits fresh record high at open, Nifty inches towards 9,000 level

Mumbai: The BSE Sensex continued its record setting spree and hit a new peak of 29,844.16 and the NSE Nifty inched towards the 9,000-level in early trade today on robust fund inflows and sustained optimism over the upcoming Budget.The 30-share index rose by 162.39 points, or 0.54 per cent, to hit a new peak of 29,844.16 (intra-day), breaking its previous record of 29,786.32 touched on 28 January.[caption id="attachment_2071547" align="alignleft" width="380"] AFP image[/caption]In previous ten sessions, the Sensex had recorded a massive rise of over 2,346 points, or more than 8 per cent.Stocks of realty, power, IT, capital goods, PSU and oil & gas sectors, led the rise.Rising for the eleventh straight session, the 50-share NSE Nifty gained 44.25 points, or 0.49 per cent, at its lifetime high of 8,996.60, just shying away from the psychological 9,000-mark. The gauge had touched an intra-day high of 8,985.05 in yesterday's trade.Brokers said apart from beginning of February series in the derivatives segment, continued buying by foreign funds as well as retail investors supported by improving macro economic data amid optimism over upcoming Budget and encouraging Q3 earnings by some bluechip companies, lifted the key indices to new highs.Besides, a mixed trend at other Asian markets and overnight gains in US markets on solid corporate earnings also boosted sentiments here, they said.Among other Asian markets, Hong Kong's Hang Seng gained 0.15 per cent, while Japan's Nikkei rose 0.63 per cent in early trade today.The US Dow Jones Industrial Average closed 1.31 per cent higher in yesterday's trade.PTI