23.1.15

Sensex scales 29k


Sensex on Thursday breached the 29,000-mark for the first time, riding on robust capital inflows and closed at 29,006. Nifty too scaled a new high of 8,774 but rupee fell by 7 paise against the dollar ending its five-day gaining streak.
Gold retreated from the five-month high level due to easing demand and weak global trends.
Markets have been bullish for the past few sessions and continued to scale record high levels for the third straight session on Thursday on improving macroeconomic data and encouraging earnings by bluechip firms.
Global markets were cautious ahead of the European Central Bank meeting that is likely to announce steps to revive euro zone economy . Sensex on Thursday rose 117 points to settle at 29,006 points, extending the gains for the sixth day.
Foreign investors too continued to buy Indian stocks. Shares worth a net Rs.2,065 crore as on Wednesday were purchased as per provisional data. However, the rally in stocks could not lend support to the rupee which lost 7 paise to close at 61.70 against the dollar.
Meanwhile, finance minister Arun Jaitley hinted at rationalizing subsidies and rebuilding credibility of the taxation structure. He said a joint session of Parliament will be called to get the insurance bill passed if it was not cleared in the coming session.



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