The NSE Nifty made history on Tuesday by scaling the 10,000-mark for the first time, even as several stocks hit their multi-year highs.
The Reserve Bank of India-led Monetary Policy Committee (MPC) may ease India's key lending rates or repurchase rates by 25 basis points in August policy meet supported by significant moderation in India retail inflation, while investors will eye upon the guidance of the central bank to gauge upon the further rate action this fiscal year. The Monetary Policy Committee may vote to ease interest rates by 25 basis points taking the repo rate to 6 per cent in the third bi-monthly monetary policy meet, TickerNews poll of 22 economists showed.
With benchmark indices touching fresh all-time high levels, around 150 stocks hit their fresh 52-week highs and around 50 scrips rose to record high levels on BSE. A total of 2,902 stocks are traded in BSE.
On NSE, 83 of the 1,757 stocks hit their 52-week highs.
While the index heavyweights have been pivotal in benchmark indices creating new lifetime highs, stocks in the broader market too are recording big gains.
Riding the buoyancy in Reliance Industries (RIL), ITC and HDFC Bank, NSE’s Nifty 50 index rose over 51 points on Monday to be within kissing distance of 10,000-mark.
Markets broke new ground today as the Nifty came tantalisingly close to 10,000 and the Sensex signed off at 32,246 after banking stocks came alive on better-than-expected quarterly results.
The massive rally that drove the Indian market to record highs, has had a positive rub off on the beaten down real estate stocks. Most realty stocks have made sharp gains during the year, as the sentiments seemed to have improved for the sector.
The BSE Sensex hit record high of 32,135.91 points and Nifty touched life-time high of 9,939.30 in opening trade today on buying in oil and gas, IT and banking stocks after better-than-expected financial results.
The Nifty-50 Index could finally touch the 10,000 milestone this eventful week, which will see the futures & options derivative contracts expiry on Thursday, the US Fed meeting on July 25-26 and first quarter earnings reports of many index heavyweights.
In a bid to woo 50 crore low-income users to its 10-month old telecom venture Jio, Reliance Industries (RIL) on Friday announced the launch of a 4G-enabled feature phone priced “effectively” at zero that bundles life-long free calls with cheap data.
Benchmark Sensex ran up 124 points today, spurred by Reliance Industries reporting its highest quarterly earnings and its announcement of a bonus issue.