Nifty hits fresh record high surpassing April 10 peak, nears 22,800. Here's why

Nifty 50 hit a fresh record high at 22,779.75 today (April 30) after tracking major gains in the auto sector, as Mahindra & Mahindra, Maruti Suzuki and Tata Motors were among the top gainers on the index. 

A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)

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Sensex also gained over 400 points or 0.54 percent at 75,072 while Nifty was up 124.60 points or 0.55 percent at 22,768. About 1797 shares advanced, 1427 shares declined, and 89 shares unchanged in the session.  In the past six months, Nifty has recorded gains of more than 19 per cent.

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What drove the gains in Nifty?

Nifty Auto index hit an all-time high of 22,634.05, led by gains in Mahindra & Mahindra and Bajaj Auto. Nifty Realty index was also up over two per cent today. 

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Were all indices rising in Nifty?

No, Nifty IT, Metal, and PSU Bank indices were top sectoral laggards as they slipped up to 0.5 per cent. India VIX surged 6 per cent to hover around 13 levels.

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