Sensex hits record high, crosses 57K in early trading

Sensex hits record high, crosses 57K in early trading

Bharti Airtel Ltd and Tech Mahindra Ltd were the top performers on the Nifty 50

The Bombay Stock Exchange. Credit: PTI Photo

Indian shares hit record highs for a second straight session on Tuesday, boosted by technology stocks and telecom firm Bharti Airtel, with investors focusing on economic growth data due later in the day.

The blue-chip NSE Nifty 50 index was up 0.18% at 16,960.75 by 0347 GMT and the benchmark S&P BSE Sensex rose 0.21% to 57,010.92. Both the indexes are set to post a fourth consecutive monthly gain.

Bharti Airtel Ltd and Tech Mahindra Ltd were the top performers on the Nifty 50, while the Nifty IT index, with its 1.12% jump, was among the top gainers among other sub-indexes.

India's GDP data is set to be released at 1200 GMT. The country's economy likely rebounded in the April-June quarter from a deep slump last year helped by improved manufacturing and despite a devastating second wave of Covid-19 cases, according to a Reuters survey of economists.

In the broader Asian markets, stocks fell as worries about China's slowing economic growth weighed on sentiment.

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