Sensex soars by over 500 points, Nifty at record high

Traders said sustained inflow of foreign funds and positive cues other Asian equities boosted investor sentiment

The BSE benchmark Sensex soared by over 500 points while Nifty was up by over points in afternoon trade on Tuesday. News agency PTI reported that the jump was led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues.

The rupee strengthened its gains by 25 paise to 69.64 against the US dollar in early trade on Tuesday.(REUTERS)

BSE Sensex was up 519 points at 37,573.28 points while Nifty traded at 11,308.25 points up by 138. Top gainers in early trade include PowerGrid, NTPC, RIL, L&T, ICICI Bank, Tata Motors, HCL Tech and Vedanta, rising over 2.60 per cent.

Traders said sustained inflow of foreign funds and positive cues other Asian equities boosted investor sentiment .

Elsewhere in Asia, Hong Kong’s Hang Seng rose 1.37 per cent, Shanghai Composite Index jumped 1.61 per cent higher, Kospi was up 0.84 per cent, and Japan’s Nikkei gained 1.88 per cent in early trade.

On Wall Street, Dow Jones Industrial Average ended 0.79 per cent higher on Monday.

The rupee strengthened its gains by 25 paise to 69.64 against the US dollar in early trade on Tuesday, driven by sustained foreign fund inflows and weaker greenback against key rival currencies overseas.

Besides, selling of US dollar by exporters and banks also propelled rupee higher. The US dollar index -- a measure of the value of the American currency relative to a basket of key foreign currencies -- was lower by 0.17 per cent at 97.012.