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Mumbai: The Indian stock market reached new milestones on Friday morning with both the BSE Sensex and the Nifty50 on the National Stock Exchange touching fresh record highs.

Sensex touched its new all-time high of 52,626.64 and the Nifty50 has hit its record high of 15,835.55 points.

Equity benchmark Sensex jumped over 250 points and touched a record intra-day high of 52,578.07 in early trade, tracking gains in index-heavyweights Reliance Industries, Infosys and HDFC Bank amid a positive trend in global equities.

The 30-share BSE index was later trading 241.05 points or 0.46 per cent higher at 52,541.52 in initial deals. Similarly, the broader NSE Nifty advanced 72 points or 0.46 per cent to 15,809.75.

PowerGrid was the top gainer in the Sensex pack, rising around 2 per cent, followed by Reliance Industries, ONGC, HCL Tech, Sun Pharma, Infosys and HDFC twins.

On the other hand, Bajaj Finserv, HUL, Bajaj Finance, Titan and Tech Mahindra were the laggards.

In the previous session, Sensex finished 358.83 points or 0.69 per cent higher at 52,300.47, and Nifty climbed 102.40 points or 0.65 per cent to end at 15,737.75.

Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 1,329.70 crore on Thursday, as per provisional exchange data.

Improving the business environment from the beginning of June, led by the phased withdrawal of business curbs by the states has lifted sentiments among investors, said Binod Modi Head-Strategy at Reliance Securities.

High-frequency key economic indicators are likely to see remarkable improvement from the current month onwards, which should sustain premium valuations of the market, he noted.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were in trading on a positive note in mid-session deals, while Shanghai was in the red.

US equities finished with gains in the overnight session.

International oil benchmark Brent crude was trading 0.55 per cent lower at USD 72.12 per barrel.

(With IANS Inputs)

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