Sensex bounces back by 195 points, Nifty rises above 9,600-mark in early trade

The key equity indices of Indian markets- Sensex and Nifty- have resumed their record-setting spree and have recovered to fresh lifetime highs in opening trade on Friday on sustained buying amid positive global cues.

Bombay Stock Exchange (BSE) headquarters in Mumbai, Maharashtra, India. Image Source: IANS

Markets resumed their record-setting spree to hit fresh lifetime highs in opening trade on Friday on sustained buying amid positive global cues.

BSE Sensex, which had lost 21.81 points in the past two sessions, bounced back by 194.97 points, or 0.62%to trade at 31,332.56, breaching its previous record high of 31,255.28 touched on May 31.

All the sectoral indices, led by healthcare, metal, auto, technology and oil & gas were trading in the positive zone with gains up to 0.86%.

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The 50-share NSE Nifty recovered by 57.40 points, or 0.59%, to quote at its lifetime high of 9,673.50. The gauge had touched an intra-day high of 9,649.60 on May 31.

Stocks of auto majors including Maruti Suzuki, Mahindra and Mahindra, Hero MotoCorp and Tata Motors were in demand and rose by up to 1.90% on the back of strong May sales data.

Other gainers in the Sensex pack were Adani Ports, NTPC, Cipla, TCS, Sun Pharma, Asian Paints, Bharti Airtel, Lupin, Coal India, ITC, Dr Reddy's and SBI during initial trade.

Brokers said a firming trend at other Asian markets, which tracked a record close at all three main indices in New York on Thursday's trade following strong private jobs report, kept sentiment upbeat.

In Asia, Hong Kong's Hang Seng gained 0.26%, while Japan's Nikkei surged 1.44%in early trade on Friday.

The US Dow Jones Industrial Average closed 0.65% higher on Thursday's trade.

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