The major equity indices maintained their upward trend in Tuesday’s early trade, rising for the eighth straight day, with the Nifty reaching a new all-time high.

The strong rise in equity in initial agreements was also aided by a generally firm trend in global markets and recent foreign capital inflows.

The 30-share BSE Sensex climbed 412.02 points to 67,539.10 in early trade. The Nifty jumped 114 points to 20,110.35 — its all-time high mark.

 Major gainers among the Sensex firms, Larsen & Toubro, ICICI Bank, Sun Pharma, JSW Steel, Infosys, Tata Consultancy Services, Axis Bank and Bharti Airtel.

NTPC, Maruti, Hindustan Unilever and Tata Motors were among the laggards.

Tokyo, Shanghai, and Hong Kong were trading green on Asian markets, while Seoul was trading lower.

The US markets ended in positive territory on Monday.

V K Vijaykumar, Chief Investment Strategist at Geojit Financial Services, said “Optimism regarding India’s growth prospects in a low-growth world and a fast decelerating China has triggered this rally enabling the Nifty to cross the psychological 20,000 mark. FIIs, too, have joined the party with a buy figure of Rs 1,473 crore.” 

The participation of the fairly valued large banking stocks and RIL make this rally healthy even when the overall market valuation is turning expensive, he added.

According to exchange data, Foreign Institutional Investors (FIIs) turned buyers on Monday as they bought equities worth Rs 1,473.09 crore.

Global oil benchmark Brent crude climbed 0.39 per cent to USD 90.99 a barrel.

The 30-share BSE benchmark regained the 67,000 level on Monday. The benchmark climbed 528.17 points or 0.79 per cent to settle at 67,127.08. The Nifty ended at 19,996.35, reflecting a gain of 176.40 points or 0.89 per cent. The Nifty scaled the record 20,000 mark for the first time ever in intra-day trade.

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