Stock market at new heights; Sensex climbed 300 points, Nifty touched 25250
Sensex Opening Bell: On Friday, Sensex and Nifty were seen trading at their new all-time high. While the Sensex climbed up to 300 points in early trade, the Nifty reached 25250 for the first time.
The domestic stock market reached a new height on the last trading day of the week. On Friday, Sensex and Nifty were seen trading at their new all-time high. While the Sensex rose up to 300 points in early trade, the Nifty reached 25250 for the first time.
At 9.50 am, the Sensex was trading up 289.19 (0.35%) points at 82,391.27. The Nifty too had risen 86.90 (0.35%) points to 25,238.85.
The US economy grew at a robust annual rate of 3% in the last quarter, according to the report on Thursday, as strong consumer spending and business investment boosted the country. These figures have further reduced recession fears.
For now, investors are focused on the US core personal consumption expenditure, or PCE, price index due later in the week along with the Federal Reserve's decision on interest rates. Eurozone inflation data is also due on Friday. These reports could give a new direction to the rate outlook in major economies.
Investors are also awaiting India's first quarter growth rate data for April-June, which will be announced later today, Friday-after the close of market trading. As far as single stocks are concerned, SpiceJet opened over 6% down. The aviation regulator has put the budget airline under tight scrutiny following an audit. This was after "some deficiencies" were revealed. Sugar stocks such as Balrampur Chini Mills, Shree Renuka, Bajaj Hindustan, Dalmia Bharat, and Dwarikesh Sugar opened 11% higher after the government allowed the sugarcane juice or syrup directly to be used by sugar mills for making ethanol with effect from November 1.
