Easing inflation lifts the Nifty50

THE NATIONAL STOCK EXCHANGE NIFTY50 CROSSED THE 10,700 POINTS MARK FOR THE FIRST TIME

Domestic macro-economic data indicating easing inflation, coupled with optimism surrounding quarterly corporate earnings, pushed the key Indian equity indices to record high levels on Monday, with the NSE Nifty50 index crossing the 10,700-mark for the first time. The Sensex and the Nifty50 touched fresh closing as well as intraday highs as investors' sentiments were lifted by positive Asian cues, along with a strong rupee and healthy buying in banking, consumer durables and finance stocks, added market observers.

The wider Nifty50 of the National Stock Exchange (NSE) scaled a new intra-day high level of 10,782.65 points. The Nifty50 rose by 60.30 points or 0.56 per cent to close at a fresh level of 10,741.55 points. On the BSE, the barometer 30-scrip Sensitive Index (Sensex) surged over 300 points to touch a new high of 34,963.69 points on an intra-day basis. The Sensex closed at a record high of 34,843.51 points -- up 251.12 points or 0.73 per cent -- from its previous session's close. The BSE market breadth remained bullish as 1,547 stocks advanced as compared to 1,387 declines.

"Markets surged higher on Monday with the Nifty touching a new record high of 10,783. Selling pressure, however, emerged from these highs which saw the Nifty losing some of its morning gains," Deepak Jasani, Head - Retail Research, HDFC Securities, told the IANS.