Sensex all-time high, Nifty breaches 10600 despite tepid GDP forecast

Sensex, Nifty scale records on global cues

Sensex, Nifty scale records on global cues

The 50-issue Nifty crossed the 10,600 level for the first time by gaining 46.95 points, or 0.44 per cent, to trade at an all-time high of 10,605.80 surpassing its previous intra-day high of 10,566.10 touched on January 5.

The rupee strengthened by 11 paise to 63.26 against the United States dollar in the opening trade due to selling of the greenback by exporters and banks amid gains in domestic equities which scaled record highs.

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At 11:53 am: Markets continued to hold on to its highs and rose constantly with key indices hitiing new peaks.

The index rose 0.27 per cent for the week ended January 5.

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The gauge had gained 360.47 points in the previous two sessions.

The rupee, meanwhile, rose to as high as 63.2450 per dollar, its strongest level since April 2015, and was last at 63.3550, compared to its close of 63.3750 on Friday.

India's economic growth is estimated to slow down to 4- year low of 6.5 per cent this fiscal, the lowest under the NDA regime, mainly due to GST impact on manufacturing and subdued farm output.

Sentiment remained upbeat on sustained capital inflows and widespread buying by retail investors amid expectations of encouraging third quarterly earnings, to be announced this week, brokers said.

The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. Foreign portfolio investors (FPIs) have been supporting the ongoing rally in the new year by pumping in sizeable money into the market.

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