MUMBAI, SEP 2 (IANS) — Indian equity frontline indices opened at an all-time high on Monday following a rally in the US market.
At the starting of the session, both Sensex and Nifty made a new all-time high at 82,725 and 25,333 respectively.
At 9:43 a.m., Sensex was 246 points or 0.30 per cent at 82,612 and Nifty was 77 points or 0.31 per cent at 25,313.
In the early trading session, Midcap and smallcap stocks traded flat compared to largecaps. Nifty midcap 100 index was down 45 points or 0.08 per cent at 59,234 and Nifty smallcap 100 index was up 19 points or 0.10 per cent at 19,326.
Among the sector indices, IT, fin service, FMCG, energy, pvt bank, consumption and infra were the major gainers. PSU bank, pharma, metal and PSE were the major losers.
According to market experts, "The market has entered a zone of steady but mild up-move caused by accumulation of quality largecaps. FIIs turning buyers last week mainly due to some large bulk deals also has improved sentiments in the market."
"If the market closes positive today that will be a record for the Indian stock market with the Nifty posting a record 13-day winning streak. Sentiment-wise this is positive," they added.
In the Sensex pack, ITC, Asian Paints, HCL Tech, UltraTech Cement, Bajaj Finance, TCS, Infosys, Tech Mahindra, Maruti Suzuki, JSW Steel, Sun Pharma and Nestle are the top gainers; whereas Tata Motors, M&M, NTPC, Titan and ICICI Bank are the top losers.
Most of the markets in Asia are trading in the green. There is a rise in Tokyo, Jakarta and Seoul. Hong Kong and Shanghai are in the red. US markets closed with a gain in Friday's session.
The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 5,316 crore on August 30, while domestic institutional investors sold equities worth Rs 3,198 crore on the same day.