Sensex hits fresh record high, Nifty above 17,400; Reliance Industries gains 2%

Equity benchmarks Sensex and Nifty hit fresh record highs amid positive global cues. At 09:18 hours, the 30-share BSE index was trading 276.9 points or 0.48 per cent higher at 58,406.91, and the broader NSE Nifty was up 73 points or 0.42 per cent to 17,396.30.

Reliance Industries was the top gainer in the Sensex pack, advancing over 2 per cent, followed by L&T, Bajaj Auto, HUL and Bajaj twins.

On the other hand, Tata Steel and Power Grid were among the losers.

On September 3, Sensex closed above the 58,000-mark for the first time. Sensex climbed 277 points to its lifetime closing high of 58,129. It touched a record of 58,194 on an intra day basis.

Santosh Meena, head of research, Swastika Investment said, "This bull run has more legs to go and it is just a matter of time when Sensex will cross the 60,000 mark because we are in a roaring bull market that may continue for the next 2-3 years.

Technically, 58,700 is an immediate target level while 57,500 is immediate support whereas 56,300-56,000 will be a strong

Foreign institutional investors (FIIs) bought shares worth Rs 768 crore on September 3 and DIIs lapped up shares worth Rs 668 crore, as per provisional data available on NSE.