The markets touched fresh lifetime highs on Wednesday as the Indian rupee strengthened further against the US dollar after touching an 8-month high on Tuesday. The BSE Sensex touched new record high of 22,172.20 points, while the NSE Nifty touched new lifetime high of 6,627.45 points. The Indian rupee was trading 60.19 against the dollar at 1.20 pm IST.
The 50-share Nifty was trading 0.37% or 24.50 points higher at 6,614.25 points, while the Sensex was trading 0.36% or 80.18 points higher at 22,135.39 points, at 1.20 pm IST.
Experts feel the steady FII flows could further strengthen rupee. "Overall, FII flows (equity and debt combined) have been positive in recent months. INR remains steady largely in 61-62 range. We anticipate a preelection rally towards 59," Barclays said in a recent research note.
Among sectoral indices, the BSE Metal (2.22%), BSE Oil & Gas (1.93%) and BSE Capital Goods (1.37%) were the major gainers. Among individual stocks, Hindalco Industries Ltd (3.23%), Sesa Sterlite (2.54%) and RIL (2.43%) were the major gainers on the 30-share Sensex.
Among Asian indices, the Hang Seng (0.67%), Kospi (1.19%), Straits Times (1.15%) and Jakarta Composite (0.55%) were the major gainers.
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