New Delhi: The Indian markets opened at peaking scores with Sensex and Nifty both hitting record highs. While Nifty crossed its benchmark by 0.25% to new intra-day high of 12,377.80, Sensex broke its lifetime record by hitting 42,000 for the first time ever amid optimistic cues from global equities after the US and China signed an initial trade deal. Also Read - Sensex Posts Worst Day in 10 Months, Sinks 1,940 Points Amid Global Meltdown
After hitting a record peak of 42,009.94, the 30-share BSE index was trading 127.65 points or 0.30 per cent higher at 42,000.38. Meanwhile, the broader NSE Nifty was trading 28.45 points or 0.23 per cent higher at 12,371.75. Also Read - Sensex Slumps 1,000 Points in Initial Trade Amid Global Sell-off
Among the top gainers were Sun Pharma, rising 1.30 per cent, closely followed by Nestle India, HUL, SBI, PowerGrid, Kotak Mahindra Bank, UltraTech Cement, Bajaj Auto and Bharti Airtel. Also Read - Centre Lifts Embargo on Grant of Govt Businesses to Private Banks
On the other hand, IndusInd Bank, Tata Steel, NTPC, Titan, Mahindra and Mahindra, Tech Mahindra, ONGC and Asian Paints were trading in the red.
Meanwhile, the rupee appreciated 5 paise to 70.77 against the US dollar in the morning session.
Traders and analysts said that the interim trade deal signed between the US and China on Wednesday acted as a catalyst as investors heaved a sigh of relief with the conclusion more than a year of tough negotiations between two of the largest economies in the world.
The first phase of the trade deal includes Intellection Property Protection and Enforcement, ending forced technology transfer, dramatic expansion of American agriculture, removing barriers to American financial services, ending currency manipulation, rebalancing the US-China trade relationship and effective dispute resolution.