Though Sensex and Nifty opened flat on Tuesday morning due to profit-booking, the benchmark equity indices touched fresh all-time highs.
Sensex crossed 85,000 milestone and recorded a lifetime high of 85,058.55 points while Nifty struck a fresh peak of 25,981.50 points in the initial hours. This was led by buying in blue-chip HDFC Bank.
Tata Steel, Hindalco Industries, Power Grid Corporation of India, BPCL, L&T and JSW Steel were the top gainers in the Nifty 50 pack. The top laggards included Hindustan Unilever, SBI Life Insurance Company, HDFC Life Insurance Company, Shriram Finance and LTIMindtree.
This comes following US Federal Reserve rate cuts which is seeing a domino effect across the globe. The Chinese PBOC also announced rate cuts following which Hong Kong and Shanghai surged. Tokyo and Seoul also shining green
With the month end and quarter end derivatives expiry coming up on Thursday, the volatility is expected to continue this week.
Another factor contributing to the volatility is the rising Middle East tensions with Israel launching airstrikes targeting Hezbollah and warning Lebanese citizens to evacuate.
Foreign Institutional Investors (FIIs) bought equities worth Rs 404.42 crore on Monday.
Sensex on Monday closed at a record high of 84,928.61 while Nifty settled at a peak of 25,939.05.