Sensex tops 32K for first time ever: 5 factors fuelling this rally - News Summed Up

Sensex tops 32K for first time ever: 5 factors fuelling this rally


The index hit an all-time high of 32,020 in opening trade. The Nifty50 was trading 60 points, or 0.61 per cent, higher at 9,876.Major Asian markets were trading up to 1.2 per cent higher; while the dollar slipped against major global currencies.Among Sensex stocks, ITC advanced 1.63 per cent to Rs 334. Larsen & Toubro, ICICI Bank , Axis Bank and NTPC were up 1.55 per cent, 1.5 per cent, 1.45 per cent and 1.13 per cent, respectively.Losers included ONGC, which fell 0.37 per cent to Rs 162.25. They have pumped over Rs 1,50,000 crore into the domestic markets since January 2017 on several factors, including expectations of accelerated pace of reforms. Milan Vaishnav, CMT, Consultant Technical Analyst, Gemstone Equity Research & Advisory Services, said: “This rising line will continue to act as support for the market in the immediate short term.


Source: Economic Times July 13, 2017 04:02 UTC



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