Sensex closes at record closing high, Nifty surges 0.38%, PSU bank stocks rise
Mumbai: The Sensex on Thursday rallied 124 points to end at a new peak of 31,369 in anticipation of positive quarterly earnings that are set to roll in later this month. A trouble-free GST launch is giving market additional strength. The minutes of the US Federal Reserve meeting on 13-14 June showed that there is no consensus among policymakers over inflation outlook and the pace of any interest rate increase going ahead. After a strong opening, the BSE 30-share index hit 31,460.70 intra-day, before closing at an all-time high of 31,369.34, up 123.78 points, or 0.40%. The previous record closing was 31,311.57 on 19 June. The gauge had gained 35.77 points in the previous session.
The 50-share Nifty after reclaiming the 9,700-mark ended 36.95 points up, or 0.38%, at 9,674.55, just shy of its life high of 9,675.10 reached on 5 June. The market is back to bullish sentiment following smooth implementation of GST, raising hopes of stronger economic growth, and decent progress in monsoon so far, traders said.