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Sensex, Nifty rally to record high, all eyes on RBI

Sensex, Nifty rally to record high, all eyes on RBI”

Aided by capital inflows, the benchmark Sensex on Wednesday closed up 0.21 per cent at 29,974.24 after breaching the 30,000-mark earlier in the session for the first time since March 4, 2015.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped down by 3.20 points or 0.03 per cent to 9,261.95 points.

The Sensex touched a high of 29,954.25 points and a low of 29,817.59 points during the intra-day trade.

Brokers said besides a weak trend in global markets after Federal Reserve meeting minutes suggested the United States central bank was considering tightening monetary policy, caution ahead of Reserve Bank's monetary policy to be announced later in the day influenced the sentiment.

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The central bank also raised the growth forecast for the current fiscal to 7.4 per cent from 6.7 per cent in 2016-17.

Buying in energy 1.20 per cent, realty 0.91 per cent, media 0.65 per cent, commodities 0.58 per cent, metal 0.28 per cent and IT 0.26 per cent capped the losses.

Anand James, Chief Market Strategist, Geojit Financial Services, said: "With no major surprises from RBI, markets stabilised, but will await the NPA (non-performing assets) resolution measures that is widely expected shortly".

Foreign institutional investors (FIIs) were net buyers in the equity segment worth Rs 1.42 billion on both BSE, NSE and MCX-SX on April 6, as per provisional data available at the BSE.

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Broader smallcap declined by 0.57 per cent and midcap ended with slight gains. Global cues were lower as well.

Asian markets traded in the negative zone.

The US Dow Jones Industrial Average ended 0.20 per cent lower in yesterday's trade. Shanghai Composite Index, however, marginally up.

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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He has 124 wickets to his name in only 23 Test matches, although he has struggled in conditions outside the sub-continent. Shah has been Pakistan's leading Test wicket-taker since late 2014.



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