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.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 999/year is the best way you can support our efforts.