Sensex Hits New Peak At 33,956, Nifty At 10,494; Rupee Also At 3 Month High
Stocks made headway today as key indices Sensex and Nifty jumped to new peaks on bets that the government would unveil more reforms to boost rural economy.
Asian stocks traded mixed as the final vote on US tax-cut legislation entered a crucial phase.
The 30-share index rose 119.57 points, or 0.35 per cent, to hit a new high of 33,956.31, surpassing its previous intra-day record of 33,865.95 hit on November 7.
The gauge had gained 783.70 points in the previous four sessions. The 50-share NSE Nifty added 31.25 points, or 0.29 per cent, at 10,494.45 - a fresh intra-day high. The gauge had hit 10,490.45 during the day on November 6.
Auto, realty and consumer durable powered the stock gains, jumping by up to 1.08 per cent.
Sentiment remained upbeat after the BJP's electoral victory in Gujarat and Himachal Pradesh and a strengthening rupee against the dollar. Apart from Maruti Suzuki, others that hit the ground running were ONGC, Hero MotoCorp, Coal India and Wipro, surging up to 2 per cent.
The rupee firmed up 4 paise to 64 against the dollar today, taking cues from a higher opening in the domestic stock market. The US currency lost muscle even as the Republican tax cut package moved closer to becoming a law.
In the opening session, the domestic unit went up 4 paise to 64 against the dollar. Yesterday, it had gained 20 paise to close at a three-month high of 64.04, building on the momentum after the BJP's win in Gujarat and Himachal Pradesh assembly polls.
The benchmark BSE Sensex today hit an all-time high of 33,956.31 by rising 119.57 points, or 0.35 per cent, and the Nifty scaled a new peak of 10,494.45, up 31.25 points, or 0.29 per cent.
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