Sensex ends at new record on earnings hopes

Mumbai: The Sensex today rallied 124 points to end at a new peak of 31,369 in anticipation of positive quarterly earnings that are set to roll in later this month. A trouble-free GST launch is giving market additional strength.

The minutes of the US Federal Reserve meeting on June 13 -14 showed that there is no consensus among policymakers over inflation outlook and the pace of any interest rate increase going ahead.

After a strong opening, the BSE 30-share index hit 31,460.70 intra-day, before closing at an all-time high of 31,369.34, up 123.78 points, or 0.40 per cent. The previous record closing was 31,311.57 on June 19. The gauge had gained 35.77 points in the previous session.

The 50-share Nifty after reclaiming the 9,700-mark ended 36.95 points up, or 0.38 per cent, at 9,674.55, just shy of its life high of 9,675.10 reached on June 5.

The market is back to bullish sentiment following smooth implementation of GST, raising hopes of stronger economic growth, and decent progress in monsoon so far, traders said.