Monday 23rd, July 2018
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Rate cut hopes push Sensex, Nifty to record highs

Published On : 13 Jul 2017

Mumbai, (IANS) The key domestic equity indices -- S&P BSE Sensex and NSE Nifty -- on Thursday scaled record highs on the back of positive global cues and hopes of a monetary policy easing.

Around 1.35 p.m., the wider Nifty of the National Stock Exchange (NSE) traded at 9,882.55 points -- higher by 66.45 points, or 0.68 per cent.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,896.23 points, traded at 32,049.50 points -- up 244.68 points, or 0.77 per cent, from its previous close at 31,804.82 points.

The Sensex has so far touched a high of -- 32,055.87 points -- a new record and a low of 31,892.63 points during the intra-day trade.

"Global equities traded higher after US Federal Reserve Chair Janet Yellen, hinted at more gradual tapering programme at her testimony before the US Congress. This led the Indian markets opened at records highs," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

"India's retail inflation hit a record low of 1.54 per cent in June, lowest since 1999, raising hopes of an interest rate cut by RBI (Reserve Bank of India) ahead of monetary policy next month (in August)."

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