Nifty hits life high on foreign buying, higher Asian stocks

MUMBAI (Reuters) - The Nifty rose to a record high on Wednesday, led by gains in blue-chips such as ICICI Bank on continued foreign-investor buying, while higher Asian shares also helped sentiment.

The broader index rose as much as 0.5 percent to hit a record high at 7,809.20, surpassing its previous all-time high of 7,808.85 hit on July 8.

Overseas investors bought Indian shares worth 4.12 billion rupees ($68.6 million) on Tuesday, marking inflows of $620.86 million over five consecutive days of buying, exchange and regulatory data showed.

Asian stocks edged up on Wednesday as risk aversion triggered by recent geopolitical tensions continued to ebb, while the Australian dollar spiked on stronger-than-expected inflation data.

 

ICICI Bank shares rose 1.5 percent, while software exporter Infosys Ltd gained 2.4 percent.

(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)