Business

Breaking Records, Sensex Crosses 32,000 Mark For The First Time

News World India | 0
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| July 13 , 2017 , 12:09 IST

For the first time, the benchmark Sensex crossed the 32,000 mark on Thursday and the NSE Nifty also hit a new peak of 9,879. According to reports, the growth was likely due to a strong buzz that a policy rate cut may be on the anvil after inflation reach a 'record low'.

A positive lead from Asia after US Federal Reserve chief indicated a gradual approach to raising US interest rates made investors here go in for fresh bets.

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The 30—share index zoomed 215.60 points, or 0.67 percent, to hit a new peak of 32,020.42, surpassing the previous intra—day record of 31,885.11 reached on July 11.

The gauge had rallied 444.18 points in the previous three sessions.

The stock of the largest IT exporter TCS was trading 0.65 per cent higher ahead of its earnings today.

All the sectoral indices, led by FMCG, capital goods, power, metal, banking, and auto, were trading in the positive zone, with gains of up to 1.06 percent.

Shattering records, the 50—share NSE Nifty too rose 62.40 points, or 0.63 percent, to hit a new life high of 9,878.50.

It had touched an intra—day record high of 9,830.05 on July 11.

ALSO READ: Sensex Touches New High; Capital Goods Stocks Surge

There are renewed hopes of a rate cut by the Reserve Bank at its policy meet next month after retail inflation hit a historically low level of 1.54 percent in June and industrial output growth slumped to 1.7 percent in May.

Prominent gainers in the Sensex kitty were ICICI Bank, ITC Ltd, L&T and Sun Pharma, gaining by up to 1.69 percent.

Hong Kong’s Hang Seng rose 1.15 percent while Japan’s Nikkei was up 0.15 percent in early session. Shanghai Composite was up 0.33 per cent.

The US Dow Jones Industrial Average rallied 0.57 percent to close at a record yesterday.