NSE Nifty Reaches Fresh All-Time High Amidst Buying in Blue-Chip Stocks

Equity benchmark indices showed a rebound on Tuesday as the NSE Nifty hit an all-time high, influenced by blue-chip stock buying, positive global market trends, and foreign fund inflows. Notable gainers included Maruti Suzuki and ITC, while Reliance Industries and others lagged. Asian markets and US markets were mostly higher.

Equity benchmark indices rebounded on Tuesday, with the NSE Nifty hitting its fresh all-time high level during the afternoon trade, driven by buying in blue-chip stocks, firm global market trends, and foreign fund inflows.

The 30-share BSE Sensex climbed 328.54 points to 80,288.92. The NSE Nifty rose 83.45 points to a new record peak of 24,404.

Among the Sensex pack, Maruti Suzuki India soared over 6 per cent. Significant gainers also included ITC, Mahindra & Mahindra, Titan, State Bank of India, Larsen & Toubro, and Tata Motors.

However, Reliance Industries, Kotak Mahindra Bank, JSW Steel, and Tech Mahindra were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading higher. US markets ended mostly higher on Monday.

"The market is exhibiting strength and is showing no signs of a sharp correction despite the high valuations. A healthy trend is that fundamentally strong largecaps are seeing buying," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Foreign Institutional Investors (FIIs) purchased equities worth Rs 60.98 crore on Monday, according to exchange data. Global oil benchmark Brent crude declined 0.03 per cent to USD 85.72 a barrel.

The BSE benchmark Sensex had declined 36.22 points or 0.05 per cent to settle at 79,960.38 on Monday. The NSE Nifty dipped 3.30 points or 0.01 per cent to 24,320.55.