Nifty at new peak of 10,101, Sensex up by 100 points on rate cut hope

Mumbai: The Nifty spurted 24 points to scale a new record of 10,101 and the Sensex rallied over 100 points at the open on Tuesday, fuelled by strong corporate earnings and positive global developments.

Participants were upbeat about the Reserve Bank's monetary policy meet on Wednesday, which is expected to announce a cut in rates, traders said.

The Nifty rallied 23.95 points, or 0.23 per cent, to a new record high of 10,101.05, knocking off its previous intra-day high of 10,085.90 it touched on Monday.

The 30-share Sensex too gained 100.51 points, or 0.30 per cent, to 32,615.45. The gauge had risen 205.06 points in the previous session to close at an all-time high of 32,514.94.

Sectoral indices metal, auto, IT, realty, healthcare and consumer durables were in the positive space, rising up to 0.99 per cent, on earnings optimism.

Prominent gainers were Wipro, Adani Ports, Hero MotoCorp, Hindustan Unilever and Bharti Airtel, helping the broader Nifty to trade at new life high.

A firm trend in the rest of Asia following a record close on Wall Street contributed to the forward movement. Hong Kong's Hang Seng advanced 0.48 per cent while Japan's Nikkei gained 0.17 per cent in early trade today. Shanghai Composite rose 0.42 per cent.

The US Dow Jones Industrial Average ended 0.28 per cent higher on Monday.