NSE Nifty hits new high; crosses 9,300-mark for first time
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The National Stock Exchange Nifty index has crossed the 9,300 mark for the first time on Tuesday while the Bank Nifty crossed the 22,000 mark for the first time too. Nifty breached the previous all-time high which was set only earlier in the day of 9,280.
Nifty index, after hitting the new all-time high, retreated and was trading at 9,299.60, up 81.65 or 0.89% from previous close.
The Bank Nifty was trading at 22,023.85, up 166.45 or 0.76% led by Punjab National Bank's stock which had gained 3.58% intraday.
On Tuesday, markets are reacting to the strength in the global shares which are near a two-year high after the first rough of the French elections.
"Emerging market equities rose towards their highest nearly two years on Tuesday, as relief over the results of Sunday's election in France boosted appetite for riskier assets and U.S. President Donald Trump's tax reform promises leant support," a Reuters report said.
On the home ground, markets were buoyed by better-than-expected fourth quarter performance posted by Reliance Industries and by strength in other blue chips stock. Shares of Reliance Industries surged 1.21% to Rs 1,433.50 after the company yesterday reported a record fourth quarter net profit of Rs 8,046 crore, PTI said.
The gains in the Nifty index were led by Bharti Infratel, which was up Rs 372.55 up 3.99% from previous close.
Other major gainers that supported the key indices were M&M, Bharti Airtel, Hero MotoCorp, Asian Paints, Power Grid, ITC Ltd, HUL, ICICI Bank and HDFC Ltd, rising by up to 3.36%, PTI added.
At the time, the 30-share BSE Sensex was trading at 29,912.05, up 256.21 or 0.86%. It is little over a 100 points away from its all time high of 30,024.74 which was seen on March 4, 2015.
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More than 375 trading members from across the country participated in the index derivatives, the National Stock Exchange (NSE) said in a statement.
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