Sensex hits record high of 29,000 in opening trade

Zee Media Bureau

New Delhi: Rising for the sixth day in a row, benchmark BSE Sensex on Thursday set a fresh life-time high of 29,000 points while the 50-share NSE Nifty opened at 8,745.

All the sectoral indices, led by IT, infrastructure and capital goods, were trading in positive zone on sustained funds inflows amid pre-budget optimism among participants.

Besides, a mixed trend in the global markets on expectations of ECB stimulus and stabilising crude and commodity prices also boosted sentiments, analysts said.

Sensex and the NSE Nifty hit their new all-time peaks of 28,958.10 and 8,741.85 respectively in the closing trade yesterday.

Analysts further said that continued foreign funds inflow since the RBI's surprise rate cut last week and encouraging Q3 earnings by some bluechip companies lifted the key benchmarks to hit new highs.

Interest rate-sensitive stocks have been in the limelight since the Reserve Bank of India's surprise rate cut last week raised hopes of a start of a monetary easing cycle.

With PTI Inputs