Markets continue bull run; Sensex above 29K, Nifty at 8,770

Foreign portfolio investors (FPIs) bought shares worth a net Rs 2,065.49 crore on yesterday as per provisional data.

Mumbai: The S&P BSE Sensex maintained its record-breaking spree by breaching the 29,000-level and consolidating gains by 154.02 points in the late morning trade, while the NSE Nifty hit a new record of 8,770 on sustained buying in key sector stocks.

Already propped-up by overall macro scenario amid strong FII inflows into Indian equities, the investors optimism further boosted by upbeat global markets on high expectations of quantitative easing from the European Central Bank later in the day.

The Sensex resumed higher at 28,957.79 and surged to a life-time high of 29,059.25, before quoting at 29,042.88 at 1045 hours -- up 154.02 points, or 0.53 percent, from its previous close.

The CNX 50-share Nifty also touched a new peak of 8,770.20, higher by 40.20 points, or 0.47 percentg, at 1045 hours.

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 2,065.49 crore on yesterday as per provisional data.

Major gainers were UBL (3.76 pct), Unitdspr (3.60 pct), Ranbaxy (3.18 pct), GMR Infra (2.99 pct), SunPharma (2.92 pct), DLF (2.82 pct) and Ultracemco (2.63 pct).

Notable losers were Reliance (1.61 pct), NTPC (1.29 pct), SBIN (0.72 pct) and Tata Power (0.66 pct).

Most Asian stocks were trading higher as investors bet the European Central Bank will unveil a bond-buying stimulus programme later in the day in an attempt to revive the flagging euro zone economy.

Key benchmark indices in Japan, Hong Kong, Indonesia, Singapore, South Korea and Taiwan were up by 0.11 pct to 0.48 pct. Key benchmark index in China was off 0.20 pct.

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