Sensex advances by over 80 points to hit a new peak of 37,690, Nifty scales fresh high of 11,378 ahead of RBI monetary policy today

The 30-share index surged 83.65 points, or 0.22 percent, to an all-time high of 37,690.23.

Press Trust of India August 01, 2018 10:33:28 IST
Sensex advances by over 80 points to hit a new peak of 37,690, Nifty scales fresh high of 11,378 ahead of RBI monetary policy today

Mumbai: Breaking all previous records, the BSE Sensex advanced by over 80 points to hit a new peak of 37,690.23, while the Nifty scaled a fresh high of 11,378.95 in opening trade ahead of the Reserve Bank's bi-monthly policy meet outcome due later in the day.

The 30-share index surged 83.65 points, or 0.22 percent, to an all-time high of 37,690.23.

The gauge had gained 1,110.21 points in the previous seven record-setting sessions and closed at an all-time high of 37,606.58 points in the previous session.

The broader NSE Nifty too hit a new high by rising 22.45 points, or 0.19 percent, to 11,378.95.

All sectoral indices led by oil and gas, FMCG, PSU, metal and banking stocks rose up to 0.95 percent.

Brokers said investors were seen raising bets ahead of the monetary policy announcement, and foreign institutional investors too showed buying interest.

Shares of Bajaj auto, Vedanta, TCS, Bharti Airtel, Kotak Bank, IndusInd Bank, M&M, ITC, SBI, Maruti Suzuki, Asian Paints, RIL, Coal India, Axis Bank and Yes Bank, rose up to 1.64 per cent.

Among the top losers were Tata Motors, Axis Bank, NTPC, Infosys and HDFC, falling up to 3 percent.

Sensex advances by over 80 points to hit a new peak of 37690 Nifty scales fresh high of 11378 ahead of RBI monetary policy today

Stock brokers. Reuters

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 572.21 crore, while domestic institutional investors (DIIs) sold shares worth a net of Rs 290.87 crore yesterday, provisional data showed.

Asian stocks edged higher, following overnight gains in Wall Street, as a report of attempts to renew talks between the US and China eased trade war fears, but investors will be keeping a close eye on US Fed policy outcome due today.

Japan's Nikkei rose 0.54 percent, Hong Kong's Hang Seng edged up 0.35 percent and Shanghai Composite Index rose 0.21 percent in early trade.

The US Dow Jones Industrial Average ended 0.43 percent higher yesterday.

Rupee sheds 5 paise

The rupee depreciated by 5 paise to 68.59 against the US dollar in early trade today ahead of the Reserve Bank's monetary policy outcome, scheduled later in the day.

Dealers attributed the rupee's fall to fresh demand for the US currency, but a higher opening in domestic stocks limited the fall.

Major currencies were mostly weak against the dollar overseas after reports that US President Donald Trump would propose tariffs of 25 percent, instead of 10 percent, in an announcement that may come as early as today.

Policy meetings of the US Federal Reserve (today) and Bank of England (tomorrow), are also keeping investors cautious; although the US central bank is expected to keep rates unchanged.

Yesterday, the rupee had gained 13 paise to close at a fresh two-week high of 68.54 against the dollar on expectations that the US Fed is likely to keep rates unchanged.
Meanwhile, the benchmark BSE Sensex rose 58.95 points, or 0.15 per cent, to hit an all-time high of 37,665.53. NSE Nifty too scaled a new peak high of 11,378.95 in early trade today. PTI DPL

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