Sensex, Nifty open in green on fund inflow, global cues

Stocks were firmly in the saddle on Friday as both indices Sensex and Nifty jumped to new peaks after the announcement of a new US Federal Reserve chief.

Investors also took keen interest in the unveiling of tax reforms by House Republicans in Washington.

The 30-share index rose by 119.36 points, or 0.35 percent, to hit a new peak of 33,692.58, surpassing its previous intra-day lifetime high of 33,657.57 hit yesterday.

The gauge had retreated from record highs and lost 27.05 points in the previous session.

The 50-share NSE Nifty added 37.90 points, or 0.36 percent, at its life high of 10,461.70. The gauge had touched an intra-day high of 10,453 yesterday.

Foreign funds inflows continued amid encouraging corporate earnings and mixed global cues.

All sectoral indices, led by realty and consumer durables, were in the green, with gains of up to 0.83 percent.

Major gainers included Bharti Airtel, Axis Bank, L&T, Dr Reddy’s and SBI, rising by up to 2.44 percent.

Hong Kong’s Hang Seng was up 0.35 per cent while Shanghai Composite shed 0.41 percent. Japanese financial markets are closed today for a public holiday.

The US Dow Jones Industrial Average closed 0.35 per cent higher yesterday.