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Sensex hits record high of 80,397 points in auto, FMCG

Sensex hits record high of 80,397 points in auto, FMCG

MUMBAI: Sensex and Nifty recovered on Tuesday to hit fresh record closes on gains in auto and FMCG stocks and foreign capital inflows.

The Sensex rose 391 points to hit a new high of 80,352 at the close of trading. During the day, it rose 437 points to hit a new all-time high of 80,397.

Nifty rose 113 points to 24,433 – its highest level so far. During the day, it rose 123 points to hit a new high of 24,444.

“Both domestic and global factors continue to drive market momentum. Currently, consumer sectors such as FMCG and automobiles are leading the gains, boosted by progress in monsoon and kharif sowing,” said Vinod Nair of Geojit Financial Services.

Among the Sensex stocks, shares of Maruti Suzuki rose over 6% after news that the Uttar Pradesh government has waived registration tax on hybrid cars as part of its initiative to promote eco-friendly vehicles in the state. Mahindra, Titan, Sun Pharma, ITC, Nestle and Tata Motors were the other major gainers.

The market capitalization of companies listed on the BSE hit a new all-time high of 451.3 billion rupees (about $5.4 trillion) on Tuesday. In Asian markets, Seoul, Tokyo and Shanghai closed higher, while Hong Kong closed lower. European markets were mostly lower. US markets closed mostly higher on Monday. Foreign investors bought shares worth 61 million rupees on Monday, exchange data showed. Agencies