Sensex hits fresh high on earnings boost, global cues; Nifty ends at 11,941

The upmove in the market has been supported by positive global markets, strong buying by overseas investors

The benchmark Sensex on Monday closed at a new all-time high after seven straight days of gains. The index rose 137 points, or 0.34 per cent, to end at 40,302, surpassing its previous record of 40,268 made on June 3. The benchmark Nifty rose 51 points, or 0.43 per cent, to end at 11,941 — 148 points below its previous best of 12,089 on June 3. The latest gaining streak for the Sensex is the best since March 2019, when it had advanced for eight days in a row.

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The upmove in the market has been supported by positive global markets, strong buying by overseas investors, and better-than-expected corporate earnings. In the past five sessions, foreign portfolio investors have pumped in nearly Rs 12,000 crore into domestic stocks. According to Bloomberg data, 18 out of 28 Nifty firms that have reported quarterly earnings have surpassed or matched the average analysts estimates. ­