Sensex breaches 30k-mark, Nifty at new high of 9264

by Linda Olson April 7, 2017, 2:25
Sensex breaches 30k-mark, Nifty at new high of 9264

Mumbai, Apr 6 The NSE 50-share Nifty pared its intra-day losses to end nearly steady after the Reserve Bank kept its key policy rate unchanged in line with market expectations.

On similar lines, the National Stock Exchange index Nifty continued its record-setting spree by gaining another 27.10 points, or 0.29 per cent, to trade at new high of 9,264.95. It had touched a high of 9,267.95 and a low of 9,218.85 intra-day.

BSE Sensex and NSE Nifty, both of which were trading down since morning on concerns that the RBI will keep a tight monetary policy to keep inflation in check, rebounded immediately after the policy statement was released, breathing a sigh of relief as the central bank refrained from pulling any surprises to spook the markets.

The Reserve Bank also narrowed policy rate corridor, due to liquidity flush, by increasing marginal standing facility rate and bank rate to 6.50 per cent. The central bank also raised the growth forecast for the current fiscal to 7.4% from 6.7% in 2016-17.

Among BSE sectoral indices, metal index fell the most by 1.21 per cent, followed by capital goods 0.85 per cent, consumer durables 0.79 per cent and healthcare 0.68 per cent.

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A total of 895 shares ended with losses while 791 finished with gains while 64 ruled steady.

In the broader markets, BSE Midcap gained 0.2 per cent while BSE Smallcap index slipped 0.2 per cent. However, the market breadth remained positive as 1,469 stocks ended higher, 1,413 declined, while 137 ruled unchanged. Global cues were lower as well. China's Shanghai Index, however, rose 0.33 per cent.

The US Dow Jones Industrial Average ended 0.20 per cent lower in yesterday's trade. Frankfurt's DAX 30 fell 0.41% while Paris CAC 40 was down 0.07% in their early deals.

Nasdaq closed in red, down by 0.38 per cent while FTSE 100 was up by 0.13 per cent at the closing on Wednesday.


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