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Sensex crosses 32K for the first time, Nifty eyes 10,000 mark
BT Online
Thursday, July 13, 2017 | 10:55 IST
Sensex crosses 32K for the first time, Nifty eyes 10,000 mark

The Sensex on Thursday scaled the 32,000 mark for the first time ever in early trade tracking higher global market movement prompted by US Fed statement and low June retail inflation at home.

On Wednesday, the government said retail inflation hit a "historically low" level of 1.54 per cent in June on dip in food items such as vegetables, pulses and milk products, which may prompt the Reserve Bank to go in for rate cut next month.

Federal Reserve Chair Janet Yellen raised the possibility on Wednesday that the Fed would consider slowing the pace of its interest rate increases if inflation remained persistently below its target level.

At 10:27 am, the Sensex was trading 226 points higher at 32,031 while the NSE Nifty climbed 65 points or 0.68 percent to 9882 level.

The Sensex has gained 2,000 points in the last 69 sessions.

On the 30 stock Sensex, ITC (1.83 percent), Axis Bank (1.47 percent) and ICICI  Bank (1.42 percent) were the top gainers, with only three stocks M&M, Tata Motors and ONGC trading in the red.

On the BSE, Sintex (12.20 percent), KEC International (7.65 percent) and City Union Bank (5.94 percent) were the top gainers.

Market heavyweight Reliance Industries was trading 0.52 percent or 7 points higher at 1517 level on the BSE.

On Wednesday, the stock hit a fresh nine- year high after the conglomerate's telco arm Reliance Jio raised tariff on some of its plans, opening up avenues for more revenue.

The TCS stock was trading 14 points or 0.58 percent higher at 2453 level ahead of its Q1 earnings scheduled to be announced later in the day.

The Infosys stock was trading 0.71 percent or 7 points higher at 980 level a day before the Bengaluru based IT firm announces its Q1 earnings.

Market breadth was positive with 1407 stocks rising against 789 falling on the BSE.  

Global markets

Shares were mostly higher in Asia Thursday following a broad rally on Wall Street that nudged the Dow Jones industrial average to a new high after Federal Reserve Chair Janet Yellen told Congress the central bank may slow the pace of its interest rate increases if inflation remains below its target level.

Japan's Nikkei 225 stock index was flat at 20,094.61 and Hong Kong's Hang Seng index jumped 1.1 percent to 26,337.49. The Shanghai Composite index climbed 0.4 percent at 3,210.65 and the S&P ASX 200 surged 1.1 percent to 5,735.40. South Korea's Kospi gained 1.2 percent to 2,419.18. Shares in Southeast Asia and Taiwan were mostly higher.

WALL STREET'S DAY

The Standard & Poor's 500 index gained 0.7 percent to 2,443.25 and the Dow rose 0.6 percent to 21,532.14, a record high. The average last set a record high on June 19. The Nasdaq composite added 1.1 percent to 6,261.17, while the Russell 2000 index of smaller-company stocks advanced 0.8 percent to 1,424.32.

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