Sensex closes above 30K for first time, Nifty at a new high

India’s benchmark BSE Sensex closed over the 30,000-mark and Nifty hit all-time high on Wednesday, tracking global cues and investors who are upbeat on prospects of faster economic growth.

Global markets, too, were up on possible tax cuts, likely to be announced on Wednesday by President Donald Trump to stimulate the US economy and the outcome of the French election allaying concerns of political uncertainty in the euro zone.

The 30-share Sensex closed up 191 points, or 0.6%, at a historic 30,133.35. Nifty too closed at life time high of 9,351.85. The 30-share BSE Sensex has flirted with the 30,000-mark a couple of times in intraday trading but has never closed that level.

The Sensex opened at 30,030.20 and rose almost 0.5% to touch 30089.74 in morning trade, while Nifty hit record 9,347.65.

On Tuesday, the broader NSE Nifty closed at an all-time high of 9,306.60, while the Sensex ended up 1% higher at 29,943.24, on global cues and robust earnings by Reliance and other blue-chip companies.

Global investors are pumping in billions of dollars into India, Asia’s third largest economy.

On Sunday, Niti Aayog projected an average annual growth of 8% for the next 15 years, with reforms such as the goods and services tax expected to kick in later this year.

CONTINUED ON P 5