Breaking boundaries, the benchmark Sensex breached the 32,000 mark for the first time and the NSE Nifty hit a new peak of 9,879 today on strong buzz that a policy rate cut may be on the anvil after inflation touched 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.
The 30-share index zoomed 215.60 points, or 0.67 %, to hit a new peak of 32,020.42, surpassing 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 % 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 %.
Shattering records, the 50-share NSE Nifty too rose 62.40 points, or 0.63 %, 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.
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 % in June and industrial output growth slumped to 1.7 % in May.
{{/usCountry}}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 % in June and industrial output growth slumped to 1.7 % in May.
{{/usCountry}}Prominent gainers in the Sensex kitty were ICICI Bank, ITC Ltd, L&T and Sun Pharma, gaining by up to 1.69 %.
Hong Kong’s Hang Seng rose 1.15 % while Japan’s Nikkei was up 0.15 % in early session. Shanghai Composite was up 0.33 %.
The US Dow Jones Industrial Average rallied 0.57 % to close at a record yesterday.