Sensex crosses 32k, Nifty hit record close for fourth straight day

The benchmark BSE Sensex rose 0.73% to end at 32,037.38.

The Sensex surpassed its previous record of 31,804.82 touched yesterday. In past four days, the index gained almost 676.75 points.
The Sensex surpassed its previous record of 31,804.82 touched yesterday. In past four days, the index gained almost 676.75 points.(PTI)

India’s main stock indexes closed at record highs for a fourth straight session, with the BSE index ending above 32,000 for the first time, as consumer inflation rate eased to its lowest in five years, cementing hopes for a rate cut.

The benchmark BSE Sensex rose 0.73 % to end at 32,037.38.

The broader NSE Nifty ended 0.77 % higher at 9,891.70, having cleared two major technical resistance levels.

The index took 33 sessions to rise 1,000 points to breach the 32,000-mark.

Asian and European stocks were up after US Federal Reserve chief indicated a gradual approach to raising interest rates, triggering increased buying by investors.

Retail inflation hit a historically low level of 1.54 % in June and industrial output growth slumped to 1.7 % in May. The numbers came out after market hours yesterday.

The BSE 30-share Sensex settled at a new peak of 32,037.38, up 232.56 points, or 0.73 %.

The Sensex surpassed its previous record of 31,804.82 touched yesterday. In past four days, the index gained almost 676.75 points.

Similarly, the broader 50-issue NSE Nifty spurted by 75.60 points, or 0.77 %, to close at fresh lifetime high of 9,891.70, bettering its record of 9,816.10 hit yesterday.

ITC emerged as the top gainer by rising 3.03 %.

The largest IT exporter, TCS, rose 0.20 % ahead of its June quarterly earnings, due today.

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