Sensex Hits All-Time High To Touch 57,000 Points Ahead Of June Quarter GDP Data

The National Statistical Office will release the GDP numbers for the April-June quarter on Tuesday.

Sensex has hit the all-time high

New Delhi:  The 30-share Sensex crossed the 57,000-mark for the very first time logging 200 points rise in early trade on Tuesday ahead of the first quarter economic growth data to be announced by the Ministry of Statistics and Programme Implementation (MoSPI) later in the day.

BSE touched a record high levels of 57,124.78 in the opening session and trading 115.53 points or 0.20 per cent higher at 57,005.29. The broader NSE Nifty also jumped 24.15 points or 0.14 per cent to touch 16,955.20.

The BSE surge was marked by gains in Infosys, HDFC Bank and TCS boosted by fresh foreign fund inflows, according to the news agency PTI. Bharti Airtel remained the top gainers rising over 1 per cent, followed by HCL Tech, Tech Mahindra, TCS and Asian Paints. M&M, IndusInd Bank, SBI and Reliance Industries remained the laggards.

The National Statistical Office will release the GDP numbers for the April-June quarter on Tuesday. In its previous monetary policy resolution, the central bank said that it expects June quarter GDP to grow at 21.4 per cent.

A recent poll of 41 economists conducted by news agency Reuters indicated that the gross domestic product (GDP) rose 20 per cent in the June quarter, compared to the record contraction of 24.4 per cent in the same period a year ago.

US equities extended gains mostly with S&P 500 and Nasdaq recording fresh highs. In Asia, bourses in Shanghai and Hong Kong were trading with losses in mid-session deals, while Tokyo and Seoul were positive.

Meanwhile, iil prices plunged on concerns that power outages and flooding in Louisiana due to Hurricane Ida will cut crude demand from refineries amid global producers' plan to raise output, as per Reuters. Brent crude fell 0.53 per cent to $71.85 per barrel.