Sensex and Nifty Hit Record Highs Amid Asian Market Gains

Benchmark indices Sensex and Nifty reached all-time highs tracking firm trends in Asian markets and gains in blue-chip bank stocks. Sensex rose 541.25 points to 77,882.33 and Nifty by 130.8 points to 23,668.65. Positive economic indicators like India's current account surplus have contributed to the bullish trend.

Benchmark equity indices Sensex and Nifty surged to new all-time high levels on Tuesday, buoyed by firm trends in Asian markets and a buying spree in blue-chip bank stocks.

The 30-share BSE Sensex ascended 541.25 points, achieving a fresh lifetime peak of 77,882.33 during afternoon trade, while the Nifty climbed 130.8 points to hit a new record high of 23,668.65.

Among the Sensex constituents, Axis Bank, HDFC Bank, ICICI Bank, UltraTech Cement, State Bank of India, and Kotak Mahindra Bank emerged as the biggest gainers. Conversely, Adani Ports, Power Grid, Tata Steel, and Asian Paints were among the laggards.

Asian markets such as Seoul, Tokyo, and Hong Kong traded higher, whereas Shanghai dipped. US markets closed on a mixed note on Monday.

Importantly, India recorded a current account surplus of USD 5.7 billion or 0.6% of GDP in the March quarter, marking the first surplus in ten quarters, according to the Reserve Bank of India. This positive economic indicator is forecasted to alleviate pressure on the rupee and pave the way for increased FII inflows once there's clarity on Federal Reserve rate cuts, noted V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Meanwhile, the global oil benchmark, Brent crude, saw a minor decline of 0.06% to USD 85.96 per barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 653.97 crore on Monday, as per exchange data.

The BSE benchmark closed 131.18 points or 0.17% higher at 77,341.08 on Monday, while the Nifty rose 36.75 points or 0.16% to settle at 23,537.85.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)