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Sensex rallies to all-time high of 22,485 ahead of RBI policy

BSE

The benchmark S&P BSE Sensex touched a new all-time high of 22,485.77 in the morning trade today

SensexMumbai: The benchmark S&P BSE Sensex touched a new all-time high of 22,485.77 in the morning trade today on persistent buying mainly in consumer durables, IT and teck sectors ahead of the RBI’s first bi-monthly monetary policy review.

Persistent foreign capital inflows coupled with higher global cues also boosted the market sentiment.

Foreign institutional investors (FIIs) bought shares worth a net Rs 942.86 crore yesterday as per provisional data from the stock exchanges.

The Sensex resumed higher at 22,455.23 and firmed up further to 22,485.77 before quoting at 22,400.96 at 1000 hours, showing a gain of 14.69 points, or 0.07 pct from its last close.

While the NSE 50-share Nifty eased by 0.09 pct to 6698.50 at 10 am.

Major gainers were Wipro 1.36 pct, ONGC 1.29 pct, Tata Motors 1.14 pct, TCS 0.76 pct and Reliance Ind 0.61 pct.

Asian stocks gained in their early trade as investors weighed reports on China’s manufacturing that underscored weakness in the world’s second biggest economy.

Key benchmark indices in Hong Kong, China, Singapore, South Korea, Japan and Taiwan were up 0.13 pct to 1.72 pct while Japan’s Nikkei Average fell by 0.28 pct.

US stocks rallied broadly on the final trading day yesterday capping a lacklustre three months with a strong gain led by the beaten down biotechnology sector.

PTI

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