Sensex breaches 38,000-mark for the first time; Nifty hits new high

BSE Sensex on Thursday breached the 38,000-mark for the first time. The Nifty also climbed 45.20 points to hit a new high of 11,495.20.

Sensex breaches 38,000-mark for the first time; Nifty hits new high

MUMBAI: The benchmark BSE Sensex rose 162.56 points, or 0.42 per cent, to hit an all-time high of 38,050.12. The NSE Nifty also hit a new high of 11,495.20 by jumping up 45.20 points on Thursday morning. 

The stock market had closed at a record high on Wednesday as well with Sensex making a gain of 221.76 points and ending at 37,887.56. The broader Nifty too had jumped 60.55 points to close at 11,450. During the day, Nifty Bank Index had breached the 28,000 level for the first time, rising as much as 0.9 percent to a record 28,119.10.

Positive global cues, along with the prediction of healthy economic growth and better-than-expected quarterly results, lifted the key Indian equity indices to new record intra-day and closing high-levels on Wednesday. 

According to market observers, the inflow of foreign funds and healthy buying in consumer durables, banking and oil and gas stocks pushed the key indices higher.

Meanwhile, the rupee too firmed up by 18 paise to 68.45 against the US dollar in opening trade on Thursday on continued selling of the American currency by exporters and banks amid foreign capital inflows.

Forex dealers said besides sustained selling of the greenback, a higher opening of the domestic equity markets boosted the local unit at the interbank forex market.