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Sensex above 57,100 amid mixed trading in Asia, tech stocks help Wall Street

Sensex above 57,100 amid mixed trading in Asia, tech stocks help Wall Street
Apple Inc gained 3 per cent, helping Nasdaq surge higher

India’s Sensex hit a fresh record high at 57,100, while Nifty neared historic levels of 17,000, despite mixed global cues, as IT and pharma stocks surged.

Chinese and Hong Kong stocks were weaker on Tuesday as Beijing’s crackdown on private industries continued, while Japan’s Nikkei managed some recovery in the later hours.

On Wall Street, Dow Jones declined but S&P 500 and Nasdaq moved to fresh record highs on Monday, led by technology stocks as investors responded positively to the Federal Reserve’s dovish comments on tapering in monetary stimulus and what that might mean for the economic recovery.

The Nasdaq Composite ended 0.9 per cent higher with Apple Inc gaining 3 per cent, an all-time high, while Microsoft Corp, Amazon.com, Google-owner Alphabet Inc rose between 0.9 per cent and 2.5 per cent, helping the tech-heavy index outperform the other two indices.

Meanwhile, S&P 500 continued its winning streak and ended 0.4 per cent higher. Dow Jones Industrial Average, however, declined 0.16 per cent as energy stocks took a hit following concerns of hurricane Ida.

London Stock Exchange was closed on Monday on the account of a Summer Bank Holiday.