Nifty crosses 9,900 mark, Sensex gallops to a new high of 32,000+
July 14, 2017  09:37
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Just in: The Nifty crosses 9,900-mark for first time with the Sensex at a new high of 32,109.75 in opening trade.


Yesterday, the BSE Sensex went past the 32,000-mark for the first time ever soaring over 232 points and the Nifty closed at a new peak 9,892 as inflation hit a record low, offering the Reserve Bank of India leeway for a policy rate cut.


The 30-share BSE index took 33 sessions to rise 1,000 points before it finally went beyond the psychologically significant 32,000. Higher Asian and European stocks provided fodder after US Federal Reserve chair Janet Yellen, in a House testimony, signalled that the approach to higher rates will be steady, prompting investors to buy more in India.Retail inflation for June hit a historically low 1.54% and industrial growth, measured by Index of Industrial Production (IIP), slumped to 1.7% for May, boosting chances of a rate cut by RBI at its upcoming August policy meet. The macro numbers were released after market hours on Wednesday.


The BSE Sensex settled at a new peak of 32,037.38, up 232.56 points, or 0.73%. It surpassed its previous record of 31,804.82 achieved Wednesday. In past four days, the index had gained 676.75 points.


The broader 50-issue NSE Nifty spurted 75.60 points, or 0.77%, to close at fresh lifetime high of 9,891.70, bettering its earlier record 9,816.10 hit Wednesday.

Both indices rose for the fourth consecutive session.

ITC Ltd emerged as the top gainer by rising 3.03%. Bharti Airtel Ltd, ICICI Bank Ltd and Sun Pharmaceutical Ltd rose up to 1.84%. The largest IT exporter, TCS, firmed up 0.20% ahead of its June quarter results declared Thursday.

Infosys, today, posted a consolidated net profit rise of 1.3 % year-on-year to Rs 3,483 crore; revenue up 1.7% to Rs 17,078 crore.
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