Sensex up 100 pts, Nifty flat; Tata Motors, BHEL gainers
The BSE Sensex and Nifty turned flat after opening at fresh record highs on positive global cues.
The Sensex rose as much as 178 points to a fresh 52-week high of 29,456.63, while the 50-share Nifty gained over 40 points to a record high of 8,878.20.
The Indian rupee opened at 61.50 a dollar on Tuesday, down 8 paise compared to Friday's closing value of 61.42 per dollar.
Weekly Newsletter
• Indian markets touched new high .Sensex & Nifty up by 3.75% and 3.78%
• Wall Street ended green.US Unemployment claims decreased by 10k to 301k.
• Asia-Pacific markets ended up during the week. GBP retail sales stood at 0.4%.
Indian indices continued bullish rally after ECB outcome and ahead of macroeconomic data. The Federal Reserve could be key for Wall Street next week as investors get to hear from the US central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan. Flows into EPFR Global's European regional equity funds rose to one-year highs in the week. Nifty is likely to trade within the spread of 8700 to 9000 range
Indian indices churned out solid gains during the week. After RBI's 25 bps repo rate cut boost last week, the European Central Bank's announcement of a Eu 1.1 trillion stimulus to stave off deflation and to boost inflation to 2 percent levels, fuelled benchmark indices back home to record highs. Bank Nifty rallied at record levels on hopes of an economic revival led by potential rate cuts ahead.Nifty went up by 321 point to settle at 8835. Sensex rose to 1057 points to settle at 29278.
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