Market benchmark BSE Sensex jumped over 200 points to hit its lifetime high of 40,676 in early session this morning led by gains in index heavyweights HDFC, ITC and RIL, as positive domestic cues boosted investor sentiment.
The 30-share index was trading 202.93 points or 0.50 percent, higher at 40,672.71. Similarly, the broader NSE Nifty rose 50.20 points, or 0.42 percent, to 12,016.25.
The government yesterday approved 25,000 crore rupees fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings, as it looks to boost growth by steering consumption in real estate and associated sectors.
According to experts, the fresh booster to the real estate sector, which will have a positive impact on other industries as well, strong corporate earnings and sustained foreign fund inflow have buoyed domestic market sentiment.
On the currency front, the rupee depreciated 10 paise against the US dollar to trade at 71.07 in the early session. (AIR NEWS)