Sensex Hits All-Time High Of 40,434 During Early Trade Over Strong Inflow Of Foreign Funds, Positive Earnings

The Indian equity markets opened on a firm note on Monday (4 November) as the benchmark Sensex touched a fresh all time high of 40,434.83 during the early trade.

Sensex jumped nearly 250 point, gaining for the seventh straight session over strong inflow of foreign funds and better than expected earnings post the corporate tax cut.

Global markets have also gained after both US and China indicated an early resolution.

At 9.27 am, the Sensex was up 216.40 points or 0.54 per cent at 40,381.43 before it touched the intra-day high of 40,434.83.

Nifty was also trading higher by 81.70 points at 11,972.30, slightly lower from its 52 week high of 12,103.05.

Among stocks, metal companies showed dramatic gains with Hindalco up by 5.3 percent, Tata Steel by 4.7 percent, Vedanta and JSW Steel by 4.4 percent each. Vodafone Idea rose by 7.2 percent after the company's management denied reports of exiting its India business.

Top gainers in the Sensex pack included ICICI Bank, Tata Motors, SBI, HCL Tech, Sun Pharma and Bharti Airtel, rising up to 3.20 percent.

(With inputs from IANS)