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Sensex hits new record high of 25,711.11; Nifty touches 7,683, Rupee down 7 paise

Sensex crosses 24000 mark

Continuing its record-breaking spree for the fourth session in a row, the benchmark BSE Sensex today hit another life-time high
Sensex crosses 24000 markMumbai: Continuing its record-breaking spree for the fourth session in a row, the benchmark BSE Sensex today hit another life-time high of 25,711.11 on sustained capital inflows as the new government unveiled its agenda for economic reforms.

The 30-share index Sensex, which had gained nearly 775 points in the previous three sessions, up by another 130.90 points, or 0.51 per cent, to trade at fresh record high of 25,711.11 in the opening trade today. The gauge had touched intra-day high of 25,644.77 yesterday.

The NSE Nifty also maintained its record run by gaining 28.60 points, or 0.37 per cent, to hit a new all-time high of 7,683.20, surpassing its previous intra-day high of 7,673.70 reached yesterday.

Stock brokers said sustained buying by foreign funds and other participants, after Narendra Modi-led government promised investor-friendly reforms and measures to revive country’s economic growth, helped the key indices – Sensex and Nifty – to continue their record-breaking spree.

Further, a mixed trend in other Asian markets and overnight gains on US bourses on the back of economic optimism influenced the trading sentiments here, they said.

Among other Asian markets, Japan’s Nikkei shed 0.44 per cent, while Hong Kong’s Hang Seng was up 0.31 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.11 per cent higher in yesterday’s trade.

Rupee down 7 paise against dollar in early trade

The rupee depreciated by 7 paise to 59.27 against the US dollar in early trade today at the Interbank Foreign Exchange market due to increased demand for the American currency from importers.

Besides, dollar’s gains against other currencies overseas also weigh on the rupee but a higher opening in the domestic equity market limited the fall, traders said.

The rupee had lost 3 paise to close at 59.20 against the dollar on late demand for the American currency from importers.

Meanwhile, the benchmark BSE Sensex rose by 130.90 points, 0.51 or per cent, to trade at an all-time high of 25,711.11.

PTI

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