Sensex, Nifty extend record-breaking spree on global cues

Extending gain for the seventh straight session, the BSE Sensex scaled another peak of 29,389.18 and the NSE Nifty breached the 8,800-mark for the first time in opening trade, driven by positive global cues triggered by European Central Bank’s stimulus measures.

The benchmark BSE Sensex climbed 383.16 points, or 1.32 per cent, to trade at a new high of 29,389.18, breaking its previous record of 29,060.41 (intra-day) touched in Thursday’s trade.

The benchmark index had gained 1,659.20 points in the previous six sessions.

The National Stock Exchange index Nifty breached the landmark 8,800-mark for the first time to hit a new peak of 8,862.75 by gaining 101.35 points, or 1.16 per cent. It surpassed previous intra-day high of 8,774.15 touched Thursday.

Brokers said apart from strong capital inflows, rally on the global markets following the European Central Bank’s (ECB) announcement of a bigger-than-expected stimulus programme to kick start the eurozone economy boosted sentiments.

The ECB said Thursday it would buy 60 billion euros a month of private and public bonds from March until September 2016.

Among other Asian markets, Hong Kong’s Hang Seng index was up by 1.37 per cent, while Japan’s Nikkei rose 1.11 per cent in early trade on Friday.

The US Dow Jones Industrial Average ended 1.48 per cent higher in Thursday’s trade.