Share Market News: Paramount Communications Shares Gain 7 Percent

Shares of Paramount Communications gained around 7 per cent as benchmark equity indices Sensex and Nifty hit their fresh all-time high levels in early trade on Monday tracking foreign fund inflows and a rally in the US markets.
The counter opened in green at Rs 90.01 and gained further to touch the high of Rs 94.97 – a gain of around 6.94 per cent from the previous close of Rs 88.81. Meanwhile, The 30-share BSE Sensex jumped 359.51 points to hit a new record peak of 82,725.28 during the early trade. The NSE Nifty climbed 97.75 points to reach a fresh all-time high of 25,333.65.
Among the 30 Sensex firms, Bajaj Finserv, HCL Tech, ITC, Tech Mahindra, Infosys and Asian Paints were the biggest gainers. Tata Motors, Mahindra & Mahindra, NTPC and Bharti Airtel were among the laggards.
In Asian markets, Seoul traded in the positive territory while Tokyo, Shanghai and Hong Kong quoted lower.
The US markets ended higher on Friday. Foreign Institutional Investors (FIIs) bought equities worth Rs 5,318.14 crore on Friday, according to exchange data.
“The market has entered a zone of steady but mild up-move caused by the accumulation of quality largecaps. FIIs turning buyers last week mainly due to some large bulk deals also has improved sentiments in the market,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)