Sensex surges 260 pts to hit fresh record in early trade; Nifty hovers around 17,400

Mumbai:  Equity benchmark Sensex jumped over 260 points in early trade to scale a fresh lifetime high of 58,390.21 on Monday, tracking gains in index majors Reliance Industries, Bajaj Auto and L&T amid a largely positive trend in global markets.

Similarly, the broader NSE Nifty too surged more than 75 points to record 17,399.35 in the opening session.

The 30-share Sensex was trading 260.26 points or 0.45 percent higher at 58,390.21, and Nifty advanced 75.75 points or 0.44 percent to 17,399.35 in initial deals.

Reliance Industries was the top gainer in the Sensex pack, rising around 2 percent, followed by Bajaj Auto, L&T, HUL, M&M, DR Reddy’s and Bajaj Finserv.

On the other hand, Asian Paints, TCS, Power Grid, Titan and Tech Mahindra were among the laggards.

In the previous session, the 30-share Sensex settled 277.41 points or 0.48 percent up at 58,129.95. Nifty surged 89.45 points or 0.52 percent to 17,323.60.

In Asia, bourses in Shanghai, Tokyo and Hong Kong were trading with strong gains in mid-session deals, while Seoul was in the red.

Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 768.58 crore on Friday, as per provisional exchange data.

Meanwhile, international oil benchmark Brent crude fell 1.20 percent to USD 71.74 per barrel.