MUMBAI, Jan 22: Buoyed by robust capital inflows, the benchmark Sensex today breached the 29,000-mark for the first time and Nifty scaled new historic high of 8,774.15, but the rupee weakened by 7 paise against the dollar ending its five-day gaining streak.
Gold, considered a safe haven, retreated from five-month high levels due to easing demand and weak global trends.
Financial markets have been bullish for the past few sessions and continue to scale record high levels for the third straight session today on improving macroeconomic data and encouraging earnings by some bluechip companies.
The benchmark BSE Sensex breached the 29,000-mark for the first time to hit a life-time high of 29,060.41 in day trade. The index settled up by 117.16 points, or 0.41 per cent, at 29,006.02 points, extending gains for the sixth day.
The wider Nifty index of NSE scaled a new high of 8,774.15, before closing higher by 31.90 points, or 0.37 per cent, at 8,761.40, a record closing level.
Global market were cautious ahead of the ECB meeting which is expected to announce stimulus measures to revive euro zone economy.
Finance Minister Arun Jaitley hinted at rationalising subsidies, rebuilding credibility of taxation structure and calling a joint session of Parliament to get the insurance bill passed if it is not cleared in the coming session.
“Markets are seen in positive mood and are seen building up optimism over the Modi-led government’s first Union Budget. Markets are also seen building up on expectations from the European Central Bank’s meeting today,” said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio. (AGENCIES)
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