Sensex, Nifty hit record highs on broad-based buying interest

The Indian equity benchmark indices hit fresh record highs on Monday on the back of broad-based buying interest amid stable cues from other Asian markets. The Sensex rose as much as 359 points to hit fresh record high of 82,725.28 and Nifty 50 index advanced 98 points to hit record high of 25,333.60.

Most of the Asian markets were trading higher with Japan's Nikkei rising to one-month high. Nikkei share average rose on Monday to touch the 39,000 level for the first time since late July, helped by a softer yen and Wall Street's gains at the end of last week and South Korea's KOSPI rose 0.25 per cent. While, China's Shanghai Composite fell 0.62 per cent and Hong Kong's Hang Seng fell 1.83 per cent.

As of 9:35 am, Sensex was up 155 points at 82,521 and Nifty advanced 52 points to 25,283.

Meanwhile, buying was visible across sectors as nine of 13 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Oil & Gas index's 0.7 per cent gain. Nifty FMCG, IT, auto, healthcare and banking shares also rose between 0.1-0.5 per cent each.

On the other hand, media, metal, PSU bank and consumer durable shares were facing selling pressure.

Mid- and small-cap shares were trading on a quiet note as Nifty Midcap 100 index rose 0.15 per cent and Nifty Smallcap 100 index rose 0.27 per cent.

Hero MotoCorp was top Nifty gainer, the stock rose 2.6 per cent to Rs 5,596. Bajaj Auto, HDFC Life, Tata Consumer Products, Shriram Finance, ITC, HCL Technologies, Bajaj Finserv, Asian Paints and Tech Mahindra also rose between 0.8-1.9 per cent.

On the flipside, Tata Motors, Dr Reddy's Labs, Mahindra & Mahindra, Hindalco, ONGC, NTPC and Bharti Airtel were among the losers.

The overall market was positive as 1,956 shares were advancing while 1,262 were declining on the BSE.