Titan was the top gainer in the Sensex pack, gaining over 2%.
Equity benchmark Sensex rose over 400 points in early trade on August 30, tracking gains in major indices Reliance Industries, HDFC and Bajaj Finance amid positive cues from global markets.
After touching a lifetime high of 56,527.81 in the opening session, the 30-share index was trading 376.65 points or 0.67% higher at 56,501.37. Similarly, the broader NSE Nifty rose 100.95 points or 0.60% to 16,806.15.
Titan was the top gainer in the Sensex pack, rising over 2%, led by Bajaj Finance, Tata Steel, M&M, Maruti, L&T, Reliance Industries and HDFC.
On the other hand, Tech Mahindra and HCL Tech were lagging behind.
In the previous session, the BSE index closed 175.62 points or 0.31% higher at 56,124.72, and the Nifty rose 68.30 points or 0.41% to end at a record 16,705.20. Foreign institutional investors (FIIs) remained net sellers in the capital market as they offloaded shares worth ₹778.75 crore on August 27, as per provisional exchange data.
Binod Modi, Head-Strategy, Reliance Securities, said domestic stocks are looking good right now.
“No mention of an actual time frame for reversing the $120 billion monthly asset purchase program by US Fed chief Jerome Powell and no signs of any interest rate hike in the medium term essentially show that a taper tantrum is still near. Not in sight in duration, which bodes well for global equities,” he said.
Mr Modi said US stocks were upbeat last week with all three major US indices recording weekly gains of 1-2.8%.
In Asia, shares in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 0.36% to $72.96 a barrel.
.