Convinced Of Positive Election Results? Sensex Hits All Time High By Breaching 39,000 Mark

Convinced Of Positive Election Results? Sensex Hits All Time High By Breaching 39,000 Mark  Stock traders rejoice (Representative image) (Anshuman Poyrekar/Hindustan Times via Getty Images) 

Sensex on Monday (1 April 2019) morning broke all previous highs to register a new high of 39,021 at the bourses. The benchmark index Nifty50 also breached the 11,712 mark, closing in on its all time high of 11,760.

At around 10.25 am, the BSE Sensex was 349 points, or 0.90 per cent, up at 39,021, while the Nifty index was 88 points, or 0.75 per cent, up at 11,712.

In the Sensex pack, 26 stocks traded in the green while only four were in the red. Yes Bank came ahead as the biggest gainer, up 4.46 per cent, even amid reports that Sebi is probing the lender for potential violations of disclosure norms, including insider-trading rules. On NSE Nifty, 39 stocks advanced while 11 declined, reports Economic Times.

Multiple factors have pumped up the mood of the markets, including the expectation of a further rate cut in the upcoming Monetary Policy Committee (MPC) meet scheduled on 4 April 2019. Further optimism has been ushered in from the progressive trade talks between China and United States.

Money market remained shut on account of annual closing of accounts.