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Sensex hits record-high of 22,162; Nifty breaches 6,600 level

BSE

BSE Sensex soared to a record-high of 22,162.52 where  rupee strengthened by 24 paise to touch a seven-month high of 60.24 against the US dollar in early trade today

SensexMumbai: The benchmark BSE Sensex soared to a record-high of 22,162.52 in opening trade today on the back of a strong rally in metal, realty and banking sector stocks amid sustained capital inflows and strengthening rupee.

The 30-share Sensex shot up by 107.31 points, or 0.48 per cent, to 22,162.52, surpassing its previous intra-day record high of 22,079.96 reached in yesterday’s trade.

The 50-share NSE Nifty breached 6,600 level to hit an all-time high of 6,622.80, up 33.05 points, or 0.50 per cent.

Brokers said sentiments remained extremely bullish as foreign investors continued to pump in funds into the Indian markets, driven by the improvement in the country’s economy that helped the key indices to touch new highs.

Besides, a firming trend overseas buoyed the trading sentiments here.

Further, rising rupee and a firming trend in other Asian markets following overnight gains in the US markets on a better than-expected jump in consumer confidence to a six-year high also buoyed the trading sentiments here, they said.

Major gainers which contributed to the rally were Maruti Suzuki, Bajaj Auto, Mahindra and Mahindra, RIL, GAIL, ONGC, State Bank of India, ICICI Bank, HDFC Bank, Tata Steel, Tata Motors and Tata Power.

Among other Asian markets, Hong Kong’ Hang Seng rose 0.76 per cent while Japan’s Nikkei gained 0.68 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.56 per cent higher.

Rupee up 24 paise against dollar in early trade

The rupee strengthened by 24 paise to touch a seven-month high of 60.24 against the US dollar in early trade today on continued selling of the American currency by exporters amid sustained foreign capital inflows.

Early gains in domestic equity markets, which climbed to a new record high also helped the rupee post gains but dollar’s strength against other currencies overseas on data showing US consumer confidence reaching a six-year high, capped the gains, they added.

The rupee had gained 29 paise to close at a seven-month high of 60.48 against the US dollar yesterday on sustained selling of the American currency by exporters and banks.

Meanwhile, the benchmark BSE Sensex rose by 107.31 points, or 0.48 per cent, to hit a new lifetime high of 22,162.52 in early trade.

PTI

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