News Karnataka
Thursday, December 01 2022
Business

Growth woes ignored, Sensex hits life-time high of 40,846

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Mumbai: The benchmark equity index Sensex on Monday logged fresh all-time high of 40,846 in line with firm global markets over reports that US and China may soon reach a trade deal ending their 16-month-long costly trade war.

Reports of an early trade deal trumped investors growth concerns. India is scheduled to release its Q2 GDP figures later this week which is widely expected to be below 5 per cent.

At 1.50 p.m., the Sensex was up 464.53 points at 40,823.94 after hitting its life-time high of 40,845.86 earlier in the day. The broader Nifty also surpassed the 12,000-mark led by index-heavyweights like Reliance Industries and Infosys.

The top Sensex gainers rally were Bharti Airtel, advancing over 5 per cent, followed by Tata Steel, Vedanta, IndusInd Bank, HFDC Bank. On the Nifty50, 43 scrips gained while seven traded lower.

Deepak Jasani of HDFC Securities said: “Core Infra data for October will be unveiled on November 29 and India’s Q2FY20 GDP number will also be unveiled on Nov 29 post-market hours. The macro numbers may not surprise positively but will put behind one uncertainty. The macro numbers may not surprise positively but will put behind one uncertainty.”

 

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