Indices touch record highs, profit booking caps gains

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Mumbai, July 25 (IANS) Expectations of healthy quarterly results, coupled with broadly positive global cues, lifted the key Indian equity indices — NSE Nifty and BSE Sensex — to touch their new record highs during the morning trade session on Tuesday.

According to market observers, factors such as hopes of a lending rate cut by the Reserve Bank of India (RBI) in its next policy review meet, along with inflows of foreign funds and consistent projection of healthy economic growth enhanced investors risk taking appetite.

The two key equity indices experienced the Gap-Up opening from their Monday’s close.

The NSE Nifty breached the 10,000-points level during the day’s early trade session at 9.15 a.m. just after the pre-open session which lasted for 15 minutes.

The wider Nifty of the National Stock Exchange (NSE) touched a high of 10,011.30 points.

Similarly, the 30-scrip Sensitive Index (Sensex) of the BSE touched a new high of 32,374.30 points during the early-morning trade session.

However, soon afterwards, profit booking dragged the indices lower.

At 10.35 a.m., the NSE Nifty inched-up to 9,966.85 points.

The BSE Sensex stood at 32,252.91 points — up 7.04 points, or 0.02 per cent.

–IANS

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