Business

Sensex Rises By 0.4% to Hit Record High, Rupee at 20-Month Peak

Brokers react while trading at a stock brokerage firm in Mumbai September 2, 2008. Credit: Reuters/Arko Datta/Files

Mumbai: India’s benchmark BSE Sensex rose as much as 0.4% to hit a record high on Wednesday, surpassing its previous milestone hit in March 2015, while the rupee hit a 20-month high against the dollar.

The market rally comes after a string of solid domestic quarterly results, while hopes for additional foreign inflows to India have increased on renewed optimism about the US economy and after the first round of an election in France went to the market’s preferred candidate.

The Sensex rose to a high of 30,071.77 points, surpassing a record last hit in March 2015. The broader NSE Nifty rose as much as 0.4% to a record high of 9,343.15 points, its second consecutive all-time milestone.

The rupee strengthened to as much as 63.93 per dollar, its highest since August 2015, compared to its close of 64.2650 on Tuesday.