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Nifty crosses past 10,000 points for the first time

The National Stock Exchange’s Nifty has gone past the 10,000 mark for the first time today. This is a clear indication of the country going towards positive growth with improved earnings among other factors. The acceleration was due to the rally of few company’s shares which was spear headed by Reliance Industries which saw a 52 week high of Rs. 1624.90 after it had announced on Friday that it would be launchng the 4G VoLTE phone or an effective price of Zero.

 The Sensex rose by 128.43 points and is currently at a new trade high of 32,374.30, breaking its previous record high of 32,320.86 reached in yesterday’s trade. 

Tata Consultancy Services, Indiabulls Housing Finance (up 1.98 per cent), HDFC Bank (up 1.95 per cent) and Bharti Airtel (up 1.87 per cent) stood among other top gainers in the index with other top performers including  Hero MotoCorp, Bharti Airtel, HDFC Bank, Tata Steel, Power Grid, ICICI Bank, Kotak Bank, NTPC, Bajaj Auto, SBI, M&M, Dr Reddy’s, Adani Ports and ITC Ltd among the Top 50 companies being listed in NSE.

The 50-issue Nifty breached the historic 10,000 level by gaining 44.90 points, or 0.45 per cent, to trade at all-time high of 10,011.30, surpassing its previous intra-day high of 9,982.05 touched yesterday. The expectations of possible rate cuts by the RBI which is expected to be announced during its meeting which is due next month seems to have bolstered the sentiments among the investors which has resulted in the increased capital inflow.

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