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Nifty, Sensex hit life-time highs on Budget hopes

Sensex

Continuing their record-breaking spree, markets today hit new record highs with the Nifty breaching the 7,800-level

Sensex Mumbai: Continuing their record-breaking spree, markets today hit new record highs with the Nifty breaching the 7,800-level for the first time and the BSE Sensex scaling another peak of 26,190.44 on hopes of growth-oriented measures in the Budget.

The 50-issue Nifty crossed the 7,800-level for the first time by gaining 21.70 points, or 0.27 per cent, to trade at an all-time high of 7,808.85, surpassing its previous intra-day high of 7,792.00 touched yesterday. It had gained over 72 points in the last two days.

Brokers said sentiment remained upbeat on sustained capital inflows and widespread buying by retail investors on hopes of reform measures in the Budget.

The benchmark BSE Sensex also climbed 90.36 points, or 0.34 per cent, to trade at a new high of 26,190.44, breaking its previous record of 26,123.55 reached in yesterday’s trade. The benchmark had gained 276.33 points in the previous two sessions.

Stocks of companies related to railways sector, Kalindi Rail Nirman moved up by 1.70 per cent to Rs 137.65, while Titagarh Wagons fell by 2.28 per cent to Rs 323.

Among other Asian markets, Hong Kong’s Hang Seng index was down 0.18 per cent while Japan’s Nikkei shed 0.49 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.26 lower in yesterday’s trade.

Rupee recovers 8 paise Vs dollar in early trade

The rupee today recovered by 8 paise to 59.93 against the US dollar in early trade at the Interbank Foreign Exchange market on increased selling of the American currency by exporters.

Besides, strengthening of the euro and yen against the dollar in overseas market and a higher opening in the domestic equity market also supported the rupee, forex dealers said.

The rupee had lost 29 paise, its biggest drop in nearly three weeks, to close at 60.01 against the dollar yesterday on rising demand for the US currency from custodian banks.

Meanwhile, the benchmark BSE Sensex rose by 90.36 points, or 0.34 per cent, to trade at a new record high of 26,190.44 in opening trade today.

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