Nifty hits 8,900 for first time since March 2015
Services sector growing at its fastest pace in over three-and-half years in August and the rupee rising against the dollar also supported trading sentiment.
Zee Media Bureau
New Delhi: The NSE index Nifty on Tuesday hit 8,900 level for first time since March 2015.
Earlier, in the opening trade the benchmark BSE Sensex climbed 249 points extending its weekend rally on continued buying amid a firming trend overseas after a slowdown in US job creation dimmed expectations of an interest rate rise by the Fed this month.
Moreover, services sector growing at its fastest pace in over three-and-half years in August and the rupee rising against the dollar also supported trading sentiment.
The 30-share index had surged 248.75 points or 0.87 percent to 28,780.86 with all the sectoral indices led by realty, banking and auto trading higher while Nifty climbed 68.10 points or 0.77 percent to 8,877.75.
Brokers said continued foreign fund inflows and persistent buying by investors amid a firming trend overseas buoyed trading sentiment.
A monthly PMI survey showing that India's services sector growth touched the highest level in over three-and-a-half years of 54.7 in August, from 51.9 in July, too lifted the mood.
With PTI Inputs