Share Market Live: Sensex crosses 37,700 for first time in stock market history

Share Market Live: Sensex crosses 37,700 for first time in stock market history

Courtesy : NJ BUSINESS 02/08/2018 08:05

 Indian stock markets (Sensex and Nifty) quickly extended gains after opening flat on Wednesday with BSE Sensex crossing 37,700 for the first time ever in stock market history and NSE Nifty nearing the 11,400-mark following the uptick in Reliance Industries, TCS and ITC. Indian equities logged record highs in the early session today with BSE Sensex and NSE Nifty hitting their respective all-time highs while Tata Motors shares plunged more than 6% after the Tata Group’s automaker posted a Q1 loss of over Rs 1,800 crore.
The market sentiments were largely optimistic following the positive global cues with NYSE’s Dow Jones Industrial Average rising more than 100 points. Today, the Reserve Bank of India (RBI) will declare the outcome of its third bi-monthly Monetary Policy Committee meeting of FY19. According to UBS Securities India, DBS of Singapore, and several others, RBI is likely to raise the repo rates by 25 basis points today, 1 August 2018.
Meanwhile, Asian shares traded higher on Wednesday, tracking the firmer Wall Street finish though reports that Washington plans to raise tariffs on $200 billion of Chinese goods have put the focus back on volatile Sino-US trade relations, Reuters reported.

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