Nifty hits all-time high in early trade amid foreign fund inflows, rally in US markets

Mumbai, Sep 16 (PTI) Equity benchmark indices rebounded in early trade on Monday, with the Nifty hitting a fresh all-time high level, amid foreign fund inflows and a rally in the US markets.

The 30-share BSE Sensex climbed 180.92 points to 83,071.86 in early trade. The NSE Nifty went up by 55.1 points to 25,411.60. Later, the NSE benchmark jumped 89.2 points to hit a new record peak of 25,445.70.

Among the 30 Sensex firms, NTPC, Axis Bank, Tata Steel, JSW Steel, Kotak Mahindra Bank, Bajaj Finserv, Larsen & Toubro and Bajaj Finance were the biggest gainers.

Hindustan Unilever, Nestle, ICICI Bank and Tata Consultancy Services were the laggards.

In Asian markets, Shanghai and Hong Kong were trading lower.

The US markets ended in positive territory on Friday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,364.82 crore on Friday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 2,532.18 crore.

Global oil benchmark Brent crude traded 0.07 per cent higher at USD 71.66 a barrel.

"Globally equity markets will be focused on the Fed rate action on Wednesday which is likely to influence the stock market trend in the near-term," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

On Friday, the BSE benchmark Sensex fell by 71.77 points or 0.09 per cent to settle at 82,890.94. The NSE Nifty dropped 32.40 points or 0.13 per cent to 25,356.50. PTI