Mumbai: The NSE Nifty crossed the 8,400-mark for the first time in late morning trade today and hit a new lifetime high of 8,407.35, led by a rally in auto, banking and infrastructure stocks on sustained inflow of foreign capital.
The 50-issue Nifty crossed the 8,400-level for the first time by gaining 44.70 points, or 0.53 percent, to trade at a lifetime high of 8,407.35, surpassing its previous intra-day high of 8,383.05 touched on November 10.
Brokers said sentiments remained upbeat on continued buying by foreign funds and retail investors amid a series of economic reforms undertaken by the Narendra Modi-led government and strong earnings by blue-chip companies.
Besides, expectations of encouraging inflation data for October and IIP numbers for September also buoyed trading sentiments, they added.
Major gainers which supported the Nifty were - ICICI Bank (up 1.15 percent to Rs 1,705), SBI (up 0.68 percent to Rs 2,759), Punjab National Bank (up 0.31 percent to Rs 957), Infosys (up 0.24 percent to Rs 4,135) and Tata Consultancy Services (up 0.91 percent to Rs 2,604.30).
In the pharma sector, Dr Reddy jumped 0.55 percent to Rs 3,437, Lupin gained 0.36 percent to Rs 1,4335.50 and Cipla was up by 0.20 percent to Rs 638.30.
The benchmark BSE Sensex also climbed 203.97 points, or 0.73 percent, to trade at new record-high of 28,114.03, breaking its previous peak of 28,027.96 reached on November 10.
