Sensex: Sensex hits all-time high on the back of gains in auto, FMCG

Mumbai: The Sensex and Nifty rebounded on Tuesday, hitting fresh record closing highs on the back of gains in auto and consumer stocks and foreign fund inflows. The Sensex rose 391 points to hit a fresh closing high of 80,352. It jumped 437 points intraday to hit a new personal best of 80,397. The Nifty rose 113 points to 24,433 — its record close. It rose 123 points intraday to hit a new record high of 24,444. “Both domestic and global factors continue to drive the market momentum. Currently, consumer sectors like FMCG and auto are leading the gains, supported by progress in monsoon and kharif sowing,” said Vinod Nair of Geojit Financial Services. Among Sensex stocks, Maruti Suzuki jumped over 6% amid reports that the UP government has waived registration taxes on hybrid cars as part of an initiative to promote eco-friendly vehicles in the state. Mahindra, Titan, Sun Pharma, ITC, Nestle and Tata Motors were the other big gainers. The market capitalisation of BSE-listed companies on Tuesday touched a new all-time high of Rs 451.3 lakh crore (about $5.4 trillion). In Asian markets, Seoul, Tokyo and Shanghai ended the day higher, while Hong Kong ended the day lower. European markets traded mostly lower. US markets ended Monday mostly higher. Foreign investors bought shares worth Rs 61 crore on Monday, according to exchange data.

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