Sensex, Nifty trade near record levels

Sensex and Nifty on Wednesday traded near record levels during the early trade, over favourable global cues and sustained inflow of foreign funds.

PC Jewellers fell over 7 per cent on the BSE after market regulator SEBI ordered impounding of alleged unlawful gains of more than Rs 8 crore made by two promoters and related entities of the company in an insider trading case.

At 10.14 a.m. the Sensex was up 63.12 points at 41,415.29. It opened at 41,442.75 from its previous close of 41,352.17.

The Nifty was trading at 12,174.75, higher by 9.75 points.

Despite the rising inflation and weak growth, the markets have been marching forward owing to the strong inflow of FII and favourable interest rate by global central banks.

On Tuesday, Foreign Portfolio Investors pumped in Rs 1,248.47 crore worth of scrips while it's domestic counterpart sold stocks worth Rs 908.16 crore.IANS