Sensex Opens At Record High Of 82,637, Nifty Reaches All-Time Peak Of 25,257

Indian shares hit record highs just after open, tracking gains in regional peers after US economic data eased growth concerns.

The NSE Nifty 50 index rose 0.33% to 25,235.9 while the S&P BSE Sensex added 0.33% to 82,396.22, with both the benchmarks hitting all-time highs.

Nifty has risen for the previous 11 consecutive sessions, marking its longest winning streak in about 17 years, supported by expectations of a US rate cut in September and healthy domestic inflows. Domestic institutional investors (DII) have purchased shares worth $6.14 billion, on a net basis, so far in August, about twice the net foreign portfolio investors (FPI) outflows.

What about Asian markets?

Asian markets rose, with the MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.7%. Most Wall Street equities rose overnight, with the Dow Jones Industrial Average at a record closing high.

Which stocks made gains and losses today?

Eleven of the 13 major sectors logged gains. The broader, more domestically focussed small- and mid-caps rose about 0.5% each. Among individual stocks, SpiceJet fell about 4% after India’s aviation watchdog placed the budget airline under enhanced surveillance after a recent audit revealed “certain deficiencies”.

Sugar stocks like Balrampur Chini Mills, Shree Renuka, Bajaj Hindusthan and Dwarikesh Sugar rose between 3% and 10% after government said sugar mills could use cane juice or syrup to produce ethanol from November.