Sensex, Nifty hit fresh record highs
According to market analysts, the Indian Meteorological Department`s (IMD) forecast of near-normal monsoon rains and a positive trade data supported the investor sentiments.
The BSE Sensex touched a fresh record high of 39,277.96 on Tuesday, an hour after the NSE Nifty 50 set a fresh benchmark. The Nifty50 on the National Stock Exchange recorded its fresh high with a new record level of 11,787.05 points. At 10.55 a.m., the Nifty50 traded at 11,783.80, higher by 93.45 points or 0.80 per cent from the previous close 11,690.35 points. The Sensex was at 39,262.36, higher by 356.52 points or 0.92 per cent higher from the previous close of 38,905.84 points.
It had opened at 39,040.30 and has so far touched an intra-day low of low 39,038.81 points. According to market analysts, the Indian Meteorological Department`s (IMD) forecast of near-normal monsoon rains and a positive trade data supported the investor sentiments. The IMD on Monday said that the south-west monsoon rains in 2019 will be near-normal with an expected rainfall of 96 per cent.
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Rise in exports from the country, also boosted the investor sentiment. India`s merchandise exports grew 11.02 per cent, on a year-on-year (YoY) basis in March, to $32.55 billion from $29.32 billion reported for the corresponding month of last year, official data showed on Monday.
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