Sensex, Nifty hit record high in early trade amid positive global cues, foreign fund inflows
Buying in index major Reliance Industries also fuelled the rally in equities
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Buying in index major Reliance Industries also fuelled the rally in equities
The 30-share Sensex opened at a new high of 74,555.44, up 307 points, or 0.41 per cent. It reached a high of 74,658.95 in the morning trades. The Nifty opened at 22,578.35 compared to previous close of 22,513.7. The index touched a new peak of 22,623,9 in the morning trades.
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Indian blue-chip indices opened lower due to IT, metal, and auto stocks before RBI's monetary policy. Tech Mahindra, JSW Steel, L&T, and others showed mixed performance.
This is giving undue advantages to air cooling solutions players discounting the higher demands in Q1FY25 sales. Over the medium-term, demand outlook we expect a higher 2 digit sales growth can be reported due to warning headlines, said Prashanth Tapse, Mehta Equities Ltd.