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Sensex, Nifty hit fresh lifetime highs; Coal India, Tata Motors, Tata Steel top gainers

While the Sensex rose 135 points to reach its lifetime high of 34,487, Nifty was trading 3 points lower at 10,616 level. The Nifty hit a new intra day high of 10,659 , breaching the earlier record of 10,631.20 level.

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Sensex, Nifty hit fresh lifetime highs; Coal India, Tata Motors, Tata Steel top gainers

The Sensex and Nifty extended gains to reach their fresh highs on optimism over Q3 earnings, economic growth and upcoming Union Budget.

While the Sensex rose 135 points to reach its lifetime high of 34,487, Nifty was trading 3 points lower at 10,616 level.

The Nifty hit a new intra day high of 10,659 , breaching the earlier record of 10,631.20 level.

"Supportive global market and optimism ahead of earnings season took the market to a new high. A cut in FY18 GDP growth estimate by CSO did not impact the movement since it was overtly conservative. Revival in earnings, incremental QoQ growth in GDP and Budget expectations are sustaining the momentum," said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

Coal India (6.57%), Tata Motors (1.80%) and Tata Steel (0.92%) were the top Sensex gainers.

Market breadth was mixed with 1136 stocks rising against 1153 falling on BSE.

Global markets

Asian markets are trading higher taking cues from the US markets. Tech and auto stocks soared. North and South Korea to start talks today. In Europe, markets closed higher after taking cues from Wall Street in the previous session and as Germany looks closer to forming a new Govt. Basic resources stocks gained after the news of trade deals between France and China. FTSE closed lower as Theresa may reshuffled her Cabinet.

US markets closed mixed with S&P500 and NASDAQ finished at record highs while DOW closed slightly lower. Wall street also looked ahead to the start of Q4 earning season later this week.

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