Sensex, Nifty Seen Up As Earnings Bring Cheer

The domestic markets opened at a new lifetime high continuing the record breaking rally as broader Nifty opened above 10,100 points for the first time ever and the benchmark Sensex opened above 32,550 points.

Investors are looking forward to the announcement of the Reserve Bank of India's monetary policy meeting, which begins today, along with a slew of earnings numbers.

The BSE consumer durable goods starred in the rally by surging 1.86 per cent, followed by metal and PSU.A similar story played out in broader markets.

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On the other hand, Bank of Baroda (down 1.48 per cent), Oil & Natural Gas Corporation (down 1.39 per cent), Lupin (down 1.26 per cent), State Bank of India (down 1.04 per cent) and Kotak Mahindra Bank (down 1.02 per cent) were the top losers.

Automakers have increased production to fill up the gap in inventory prior to the launch of the Goods and Services Tax and will therefore ship more vehicles to dealers, said Mahantesh Marilinga, senior research analyst at Finquest Securities.

The wider Nifty50 of the National Stock Exchange (NSE) rose by 62.60 points or 0.63 per cent to provisionally close at 10,077.10 points (at 3.30 p.m.). The gauge had risen 205.06 points in the previous session to close at an all-time high of 32,514.94.

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In the Nifty chart, Eicher Motors (up 4.88 per cent), Indiabulls Housing Finance (up 4.83 per cent), Tech Mahindra (4.09 per cent), Bharat Petroleum Corporation (up 2.93 per cent), Bosch (up 2.88 per cent) and Hindalco Industries (up 2.71 per cent) stood as top gainers.

Meanwhile, Asian shares gained after positive economic data from around the globe boosted risk appetite.

The Dow Jones Industrial Average hit a record closing high on Monday, helped by Boeing, while selling in Facebook, Alphabet and other technology companies checked the S&P 500 and pulled the Nasdaq lower.

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