Sensex closes past 32,000 for the first time, Nifty near 9,900, FMCG, banking stocks jump
Mumbai: The Sensex on Thursday 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 yesterday. 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 Wednesday.
