Global cues, healthy Q1 results lift indices to record highs

Mumbai: Positive global cues, along with expectations of healthy quarterly results, lifted the key Indian equity indices to their record intra-day and closing high-levels on Wednesday.

According to market observers, the inflow of foreign funds and healthy buying in consumer durables, banking and oil and gas stocks pushed the key indices higher.

The 30-scrip Sensitive Index (Sensex) closed the day’s trade at a fresh high of 37,887.56 points, up 221.76 points and 0.59 per cent from its previous close.

Similarly, the wider Nifty50 of the National Stock Exchange (NSE) made gains during the session. It closed on a fresh high of 11,450 points, up 60.55 points or 0.53 per cent from its previous close.

On Tuesday’s previous trade session, profit booking, along with concerns over global protectionist measures, subdued both the key indices.

Consequently, the barometer had closed at 37,665.80 points, down by 26.09 points and 0.07 per cent on Tuesday.

In contrast, the Nifty50 closed on a flat-to-positive note at 11,389.45 points, up by just 2.35 points or 0.02 per cent.