Foreign fund inflows, positive domestic cues lift markets to a fresh high

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Continuing their record-setting spree for a third day in a row, the Sensex and the Nifty50 hit fresh closing highs on Tuesday on the back of sustained foreign fund inflows and positive domestic cues.

After swinging over 300 points in a highly volatile session, the 30-share index ended 66.44 points, or 0.17 per cent, higher at 39,749.73 — its all-time closing high. The gauge hit an intra-day high of 39,828.65 and a low of 39,498.65. Likewise, the broader NSE Nifty inched 4 points, or 0.03 per cent, higher to 11,928.75 — another closing peak for the index. During the day, the bourse hit a high of 11,958.55 and a low of 11,864.90.

Yes Bank was the biggest gainer in the Sensex pack, rallying 4.06 per cent. Other gainers were Coal India, Infosys, PowerGrid, Vedanta, Reliance, TCS, HUL, ONGC, HCL Tech, IndusInd Bank, HDFC Bank and Asian Paints, gaining up to 2.72 per cent. On the other hand, Hero MotoCorp, Bajaj Auto, Bharti Airtel, L&T, Bajaj Finance, M&M, Tata Steel, HDFC, Kotak Bank and ITC were the major laggards, shedding up to 2.55 per cent.

The broader BSE Midcap and Smallcap indices closed up to 0.41 per cent higher.

A renewed sense of positivity has been dictating domestic bourses ever since the BJP-led National Democratic Alliance (NDA) won the general elections. Positive cues from other Asian markets  too boosted investor sentiment, traders said.

Foreign institutional investors bought equity worth Rs 1,215.36 crore on Monday, while domestic institutional investors sold shares to the tune of Rs 327.86 crore, provisional data available with stock exchanges showed.

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