Nifty hits record high Sensex crosses 41000

Sensex and Nifty continued to rally for the second consecutive session powered by a surge in US markets which hit record highs in last trading session. Sensex rose over 200 points to hit its all-time high

The 30-share Sensex opened at 41,022.85, before touching a high of 41,120.28 during the morning session. The broader Nifty also touched a new high of 12,132.45 during the first hour of trading.

However, profit booking in stocks such as Bharti Airtel, TCS, Infosys, L&T, Maruti Suzuki India and Power Grid Corporation pulled down the indices to end the day in the red.

The Sensex closed at 40,821.30, down 67.93 points, or 0.17%. The Nifty lost 36.05 points or 0.3% to settle the day at 12,037.70.

The rupee was also up today, increasing 71.66 against the US dollar, as compared to the previous close of 71.73.

Among the stocks that gained the most were, Infosys, Asian Paints, Tata Steel, Axis Bank, HDFC and IndusInd Bank. In terms of sectors, Banking, IT, pharma, metal and energy stocks led the gains.

Zee Entertainment traded over 6 per cent lower on the NSE after Subhash Chandra stepped down as the chairman of the board of the company on Monday.

InterGlobe Aviation also slipped over 2 per cent after aviation regulator barred the company from operating Airbus A320 and 321 Neo aircraft.

On Monday, FPIs bought shares worth Rs 961 crore while the domestic investors overloaded shares worth Rs 214 crore.

The overall market breadth was also negative — in line with the fall in the benchmarks — with over 1,400 stocks in the red as against 1,081 gainers. Market participants attributed the initial rally to a strong trend in the global markets and also consistent buying by foreign portfolio investors.