Latest News – In a volatile trading session, the benchmark indices ended at record closing highs ahead of the Reserve Bank of India’s monetary policy statement due tomorrow.
The S&P BSE Sensex ended at 29,974, up 64 points after rising as much as 97 points to 30,007 in intraday trade. The broader Nifty50 hit fresh lifetime high of 9,274 before closing at 9,265, up 27 points.
In the broader market, the S&P BSE Midcap and S&P BSE Smallcap indices also logged their fresh closing highs by gaining over 0.4%, and over 1%, respectively.
The market breadth, indicating the overall health of the market, was strong with over two gainers against one loser. On the BSE, 1,977 shares rose and 957 shares declined. A total of 137 shares were unchanged.
“The Sensex crossed 30,000 mark in intraday trade. This is in line with the overall positive sentiment in the market which has been riding on the passage of GST Bill and the strengthened position of government after the assembly elections. The improved macro-economic numbers such as sharp reduction in current account deficit are resulting in lot of funds flowing into equities- both from domestic and global institutions. The buying interest is not only in large caps but also in mid and small caps, which have actually outperformed the large caps. Going forward, the market would be keenly looking for trends from the March quarter numbers,” said Kunj Bansal – Executive Director & CIO – Equity , Centrum Broking.
RBI policy due tomorrow
The monetary policy committee of the Reserve Bank of India (RBI) is likely to leave the repo rate at (Read More)