The BSE Sensex breached 30,000-mark and the NSE Nifty hit a lifetime high of 9,264.95 in opening trade on Wednesday morning on sustained buying by retail investors amid increased foreign fund inflows and positive Asian cues.
However, the benchmark failed to sustain the 30,000 level and slipped into negative territory, ahead of RBI’s Monetary Policy Committee meet later on Wednesday.
The 30-share index crossed the 30,000-mark by surging 97.26 points, or 0.32 per cent, to trade at 30,007.48, a level last seen on March 4, 2015 when it hit an intra-day high of 30,024.74. Later, it fell to 29,817.69 as investors turned cautious.
The gauge had rallied by 289.72 points in previous sessions on Monday.
Markets remained closed on Tuesday on account of “Ram Navami”.
All the sectoral indices, led by consumer durables and realty, were trading in positive zone with gains up to 2.20 per cent.
On similar lines, the National Stock Exchange index Nifty continued its record-setting spree by gaining another 27.10 points, or 0.29 per cent, to trade at new high of 9,264.95.
Major gainers that supported the key indices were RIL (1.15 per cent), Adani Ports (1.87 per cent), Maruti Suzuki (1.44 per cent), L&T (1.03 per cent) and NTPC (1.40 per cent).
Equity brokers said sentiments remained bullish largely on the back of sustained foreign fund inflows coupled with persistent buying by retail investors following the release of the Nikkei India Manufacturing PMI on Friday, which increased to a five-month high of 52.5 in March from 50.7 in February.
Among other Asian markets, Hong Kong’s Hang Seng was up by 0.23 per cent, while Japan’s Nikkei rose 0.27 per cent in early trade today. Shanghai Composite Index gained 1.11 per cent.
The US Dow Jones Industrial Average ended 0.19 per cent higher in yesterday’s trade.