Markets continue upward streak, Nifty closes above 9,900

RSTV Bureau

sensex-up-400x265On Monday, Sensex and Nifty registered a new high. Sensex jumped to a life-time high of 32,131.92, before ending 54.03 points up to a new record closing of 32,074.38.

Nifty too closed above the 9,900 mark for the first time. It gained 29.60 points to finally close at 9,916. It touched a new high of 9,928.20 during intra-day trade, breaking Friday’s record of 9,913.30.

Both indices further built the optimism on corporate earnings and made the most of the momentum.

Wipro emerged as the top gainer among Sensex stocks, rising 3.12 per cent ahead of its board meeting to discuss buyback of shares.

Investors were optimistic that blue-chip companies might post encouraging first quarter numbers in the coming days. Not just that, the above-normal progress of monsoon also added to the rise.

Asian shares ruled firm, picking up cues from stronger than expected growth in China. There were speculations that the US Federal Reserve will tread with care in tightening its policy, given lacklustre economic data, which led to a record close in the US on Friday.

On Monday, Sensex broke its previous high of 32,037.38, which it hit on July 13.

(With inputs from PTI)