Sensex crosses 32k, Nifty hit record close for fourth straight day
The benchmark BSE Sensex rose 0.73% to end at 32,037.38.business Updated: Jul 13, 2017 16:36 IST
India’s main stock indexes closed at record highs for a fourth straight session, with the BSE index ending above 32,000 for the first time, as consumer inflation rate eased to its lowest in five years, cementing hopes for a rate cut.
The benchmark BSE Sensex rose 0.73 % to end at 32,037.38.
The broader NSE Nifty ended 0.77 % higher at 9,891.70, having cleared two major technical resistance levels.
The index took 33 sessions to rise 1,000 points to breach the 32,000-mark.
Asian and European stocks were up after US Federal Reserve chief indicated a gradual approach to raising interest rates, triggering increased buying by investors.
Retail inflation hit a historically low level of 1.54 % in June and industrial output growth slumped to 1.7 % in May. The numbers came out after market hours yesterday.
The BSE 30-share Sensex settled at a new peak of 32,037.38, up 232.56 points, or 0.73 %.
The Sensex surpassed its previous record of 31,804.82 touched yesterday. In past four days, the index gained almost 676.75 points.
Similarly, the broader 50-issue NSE Nifty spurted by 75.60 points, or 0.77 %, to close at fresh lifetime high of 9,891.70, bettering its record of 9,816.10 hit yesterday.
ITC emerged as the top gainer by rising 3.03 %.
The largest IT exporter, TCS, rose 0.20 % ahead of its June quarterly earnings, due today.