Sensex Opening Bell: Stock market at new highs; Sensex rises 300 points, Nifty touches 25250
New Delhi| The domestic stock market reached new heights on the last trading day of the week. On Friday, Sensex and Nifty were seen trading at their new all-time high. While Sensex climbed up to 300 points in early trade, Nifty reached 25250 for the first time. At 9.35 am, Sensex rose by 289.19 (0.35%) points to reach 82,391.27. On the other hand, Nifty climbed 86.90 (0.35%) points to reach 25,238.85. The U.S. economy grew at a strong annual rate of 3% in the last quarter, driven by strong consumer spending and business investment, according to a government report released Thursday. These figures have further reduced the fears of recession.
Investors are now focused on the US Core Personal Consumption Expenditure (PCE) price index, the Federal Reserve’s ruling on interest rates. Euro area inflation data is also expected on Friday. These reports are expected to provide a new perspective on rates in major economies. Investors are also waiting for the first quarter (April-June) growth rate data in India, which will be released today i.e. after the market closes on Friday. In single shares, SpiceJet opened more than 6% lower, as the aviation regulator has kept the budget airline under close surveillance following an audit. This was done after “some shortcomings” came to light. Sugar stocks including Balrampur Sugar Mills, Sri Renuka, Bajaj Hindustan, Dalmia Bharat and Dwarikesh Sugar opened up 11%, as the government allowed sugar mills to use sugarcane juice or syrup to make ethanol from November 1.
