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Markets come off record highs; ITC surges 4%

Markets have commenced the trading session on a firm note with the indices touching fresh all-time high amid strong global cues.

The Sensex gained over 340 points and hit 28,800 in opening moves, while the Nifty gained 88 points at 8,625.

On Wednesday, the total market capitalisation on the Bombay Stock Exchange topped the Rs 100 trillion mark. The total market capitalisation stood at Rs 100,40,625 crore at close.

On the global front, US stocks rose on Wednesday, with both the Dow and S&P 500 ending at records, as data pointed to improving conditions in the US services sector, boosting cyclical stocks.

Both the Dow and S&P also ticked to intraday records in a quiet session, with many traders looking ahead to tomorrow’s key meeting of the European Central Bank.

Japanese stocks jumped to a near 7-1/2-year high on Thursday as a weak yen drove exporter shares, while the mood was also supported by data showing US economic resilience and expectations of more stimulus from the European Central Bank.

The Nikkei benchmark rose 0.8% to 17,856.89 after earlier hitting 17,912.59, the highest mark since July 2007. The index is on course for a fifth straight day of gains.

The broader Topix also scaled a six-year peak, adding 0.8% to 1,441.33, with toymaker Tomy jumping 10.0% to its highest since 2011 after announcing a 6.7 billion yen ($ 55.9 million) share buyback.

Back home, foreign portfolio investors (FPIs) bought shares worth a net Rs 391.07 crore yesterday as per provisional data.

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