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Sensex crosses 32K, Nifty at kissing distance from 9900

Friday, July 14, 2017

The Sensex yesterday went past the 32,000-mark for the first time ever soaring over 232 points and the Nifty closed at a new peak 9,892 as inflation hit a record low, offering the RBI leeway for a lower policy rate.

The 30-share BSE index took 33 sessions to rise 1,000 points before it finally went beyond the psychologically significant 32,000. Higher Asian and European stocks provided fodder after the US Fed chief, in a House testimony, signalled that the approach to higher rates will be steady, prompting investors here to buy more.

Retail inflation for June hit a historically low 1.54% and industrial output growth for May slumped to 1.7%, boosting chances of a rate reduction by the Reserve Bank at its upcoming August policy meet. The macro numbers were released after market hours on Wednesday.

The BSE Sensex settled at a new peak of 32,037.38, up 232.56 points, or 0.73%. It surpassed its previous record of 31,804.82 touched on Wednesday. In past four days, the index had gained 676.75 points.

The broader 50-issue NSE Nifty spurted 75.60 points, or 0.77%, to close at fresh lifetime high of 9,891.70, bettering its earlier record 9,816.10 hit yesterday. Both indices rose for the fourth consecutive session.

M-cap of BSE-listed cos at record high of over Rs 130 lakh cr
Total market valuation of all listed companies on BSE rose to a lifetime high of over Rs 130 lakh crore today as the Sensex went past the 32,000-mark for the first time ever by gaining 232 points. At close of trade today, market capitalisation (m-cap) of BSE listed firms surged to Rs 1,30,91,755 crore (over USD 2 trillion). There are over 5,200 companies listed on BSE, of which 2,885 are actively traded.

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