The surprise rate cut by the Reserve Bank of India (RBI) on Wednesday sent the stock markets to newer heights with the 30-share BSE Sensex breaching the 30,000 mark for the first time.
It has been a steady climb for BSE Sensex that reached the 22,000-mark in March 2014. However, the initial excitement proved to be short-lived as investors started booking profits.
The BSE Sensex, which logged its all-time high of 30,024.74 within minutes of opening, closed at 29,380.73 — down 213 points or 0.72 per cent.
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Contributing factors
* Foreign institutional investors pumped in a net of Rs 2,786 crore on Wednesday, taking the total investment between March 2014 and February 2015 to Rs 1,19,329 crore.
* The net FII inflow since the Budget announcement on February 28, amounts to Rs 6,771 crore.
* Crude oil prices that hovered around $110 per barrel in March 2014 and now is hovering at around $60 per barrel now.
