After the broader Nifty struck its all-time high on Tuesday morning, the 30-stock Sensex also recorded its lifetime peak in the following hour. This is mainly attributed to a rally in the US markets and steady foreign fund inflows.
Sensex soared to its new lifetime high of 80,898.30 around 10.45 am after jumping 233.44 points. The NSE Nifty, which recorded a fresh peak of 24,650.05 in the early morning trade, went up further after 11 am to hit a new all-time peak of 24,661.25.
The major gainers in the Sensex basket included Hindustan Unilever, Bharti Airtel, Tata Steel, Infosys, ICICI Bank and Titan while the steepest losses were seen in Kotak Mahindra Bank, UltraTech Cement, Nestle and Larsen & Toubro.
Exchange data revealed that Foreign Institutional Investors (FIIs) bought equities worth Rs 2,684.78 crore on Monday.
Wall Street shines green
One of the mains reason attributed to the rally in Indian stocks is Wall Street optimism after Donald Trump survived an assassination attempt on Saturday. The US stocks and bonds rallied on Monday with the return of what Wall Street Journal referred to as "Trump trade", amid positive market sentiments over Trump's increasing chances of winning the November elections.
Trump Media & Technology Group stock was up 36.6 per cent. Crypto stocks also zoomed after Bitcoin crossed $62,000 levels as Trump is seen as a crypto-friendly Republican. Others stocks spurred by Trump momentum include gunmakers, health insurers and private prisons.
Dow Jones closed at a record high on Monday on the prospects of a Trump victory, marking the index's first fresh record close since May 17. The S&P 500 and Nasdaq Composite also rallied during the day. Earnings from investment giants like Goldman Sachs also spurred the optimism.
In Asian markets, Seoul and Tokyo were also trading higher.
