Mumbai: Breaking frontiers, the Sensex benchmark broke the 32,000 mark for the first time and the NSE Nifty hit a new peak of 9,879 today by the strong rumor that a policy rate cut could be on the anvil after Of inflation reaching a record level.
A positive Asian advantage after the head of the US Federal Reserve indicated a gradual approach to raising US interest rates prompted investors to turn to fresh gambling.
The 30-share index rose 215.60 points, or 0.67 percent, to reach a new peak of 32,020.42, surpassing the previous intra-day record of 31,885.11 reached on July 11.
The caliber had risen 444.18 points in the previous three sessions.
The stock of TCS ‘biggest IT exporter was trading 0.65 percent higher than its current earnings.
All sector indices, led by consumer goods, capital goods, energy, metal, banking and automobiles, were traded in the positive zone, with gains of up to 1.06 percent.
Tear records, the 50-part NSE NSE also rose 62.40 points, or 0.63 percent, to reach a new high of 9,878.50.
On July 11 it had reached a record high of 8,830.05.
There is renewed hope of a rate reduction by the Reserve Bank at its policy meeting next month after retail inflation reached a historically low level of 1.54 percent in June and industrial production growth fell to 1.7 percent in May.
Prominent winners in the Sensex kitten were ICICI Bank, ITC Ltd, L & T and Sun Pharma, earning up to 1.69 percent.
Hong Kong’s Hang Seng rose 1.15 percent, while Japan’s Nikkei rose 0.15 percent early in the session. Shanghai Composite rose 0.33 percent.
The US Dow Jones Industrial Average rose 0.57 percent to close on a record yesterday.
