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Sensex hits all-time high in opening trade; Rupee opens flat at 69.74/$

By 9.30 am Sensex slipped below 39,400, while Nifty traded just above 11,800.

Sensex Tuesday breached its previous highest mark of 39487 and was trading at 39,554.28 points in opening trade. The Nifty, too, opened at a record high of 11857.10 point. The Indian Rupee opened flat at 69.74/$ vs Monday’s close of 69.73.

Adani Port, Dr Reddy’s Lab, HDFC, RIL, Coal India and Bharti Infra are among major gainers on the indices, while Tata Motors, BPCL, Tech Mahindra, HCL Tech, Infosys, Sun Pharma, TCS, Jindal Stainless, Astral Poly, Dhampur Sugar and Phillip Carbon were among the losers. HDFC and Dr Reddy’s were among the top Nifty gainers in opening trade.

However, by 9.30 am Sensex slipped below 39,400, while Nifty traded just above 11,800.

In the previous session, the Sensex ended 1,421.90 points, or 3.75 per cent, higher at 39,352.67, and the Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25.

"Market has given a thumbs-up to exit poll numbers. Sentiments have turned around drastically and the benchmark indices can gain 5-8 per cent more from here over the next few weeks if the final election outcome is in line or even better than exit polls," said Gaurav Dua, Senior VP, Head Strategy and Investments, Sharekhan by BNP Paribas.

Meanwhile, market regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election related events lined up.

Foreign institutional investors bought equity worth Rs 1,734.45 crore on Monday, while domestic institutional investors sold shares to the tune of Rs 542.71 crore, provisional data available with stock exchanges showed.

With PTI inputs