Nifty crosses historic 10,000 mark, Sensex hits new high

The Nifty50 crossed the historic 10,000 level in early trade today as hopes of improving earnings, accelerating economic growth and more government reforms continued to support a strong rally this year.

The Nifty rose 0.45 per cent to a record high 10,011.30, then pared some of the gains and was up 0.2 per cent.

Also read: Reliance Industries stock pushes Sensex, Nifty to fresh high, crosses 1,600 level

Later, the Nifty came off the day's highs and was trading at 9971 level. Analysts said market was in an overbought mode and was set for a correction. On the Nifty, Bharti Infratel (3 percent), Indiabulls Housing Finance (2.23 percent), Vedanta (1.53 percent) were the top gainers.

The Sensex too rose to its all-time high of 32,374 level in early trade.

Also read: Four of top-10 cos lose Rs 61,931 cr in mcap; ITC hit hard

At 9:52 am, the index was trading 23 points lower at 32,222 level.

On the 30 stock Sensex, HeroMotoCorp 1.11 percent, NTPC (1 percent), Tata Steel (0.79 percent) were the top gainers.Tata Motors was the top loser, falling 1.36 percent.

Market breadth turned mildly negative with 992 stocks rising compared with 1070 stocks falling on the BSE.

Reliance Industries, HDFC Bank, and Adani Ports and Special Economic Zone hit their 52-week highs in early trade on the BSE.

The private sector lender reported a 20.22 percent rise in Q1  net profit to Rs 3,893.84 crore for the quarter ended on June 30, 2017, compared to the same period last year. The HDFC Bank stock hit a 52-week high of 1756 level on the BSE. 

Reliance Industries which contributed to market rally yesterday on Jio phone and bonus shares announcement, extended gains to reach a fresh nine-year high of 1629 level on the BSE.

Global markets

The Standard & Poor's 500 lost 0.1 percent to 2,469.91 after nine of the 11 sectors that make up the index logged losses. The Dow Jones industrial average fell 0.3 percent to 21,513.17. The Nasdaq composite gained 0.4 percent to 6,410.81.

Japan's Nikkei 225 index slipped 0.1 percent to 19,964.81 and Hong Kong's Hang Seng edged 0.1 percent higher to 26,875.11. South Korea's Kospi edged 0.1 percent lower to 2,449.96. Australia's S&P ASX 200 gained 0.8 percent to 5,735.10 and the Shanghai Composite index was flat at 3,249.73. Shares in Southeast Asia were mixed.