Sensex hits 33,500, Nifty 10,400 after India’s ease of doing business rank jumps; rupee strong

Mumbai: It was a trail-blazing show by stock markets today after the Nifty bolted past 10,400 for the first time and the Sensex hit yet another record 33,451 on the back of India's jump on Ease of Doing Business list.

India went up by 30 notches to 100 on the World Bank ranking, released yesterday.

Also, eight core sectors growing to a six-month high of 5.2 percent in September and positive leads from global market made investors bolder.

At 10:41, the Sensex was up more than 1 percent at 33,571 and Nifty at 0.9 percent at 10,429.

sensex-bse1_gettyimagesThe benchmark BSE Sensex too climbed 238.16 points, or 0.71 percent, to trade at new record of 33,451.29, breaking its previous such reading of 33,340.17 reached on 30 October.

Reflecting the market's bullish mood, all the sectoral indices led by banking and FMCG were trading in the positive zone, with gains of up to 1.36 percent.

Big gainers included Bharti Airtel, ICICI Bank, Axis Bank, SBI and Reliance Industries, rising by up to 3.69 percent

Hong Kong's Hang Seng was up 0.66 percent while Japan's Nikkei rose 1.42 per cent in their early trading. Shanghai Composite edged up 0.28 percent. The US Dow Jones Industrial Average ended 0.12 percent higher yesterday.

Meanwhile, the rupee too positively reacted to development by rising 12 paise to 64.63 against the dollar.

Banks and exporters liquidated their dollar bets and domestic stocks soared to new highs, which gave the rupee a leg-up, forex traders said. However, the US currency's strength against other units had a sobering effect here, dealers said. Yesterday, the rupee had moved higher by 10 paise to end at a fresh two-week high of 64.75 against the dollar.

Published Date: Nov 01, 2017 10:46 AM | Updated Date: Nov 01, 2017 10:46 AM

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