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Market logs a new record high on lower inflation, funds rush

Press Trust of India  |  Mumbai 

Benchmarks and closed at fresh lifetime highs of 30,322 and 9,445, respectively, today as lower numbers and better- than-expected quarterly earnings drove investors.

The 30-share barometer closed at an all-time high of 30,322.12, up 133.97 points, or 0.44 per cent. It broke previous record closing of 30,250.98 touched on May 11.

The gauge had retreated 62.83 points on Friday.

The after shuttling between 9,449.25 and 9,423.10, rebounded 44.50 points, or 0.47 per cent, to end at a new all-time high of 9,445.40, surpassing previous record of 9,422.40 hit on May 11.

Investor sentiment received a boost after retail fell sharply to multi-year low of 2.99 per cent in April, from 3.89 per cent and based on the wholesale price index slipped to a four-month low of 3.85 per cent in April, creating headroom for rate cuts by Reserve in coming month.

Besides, the rupee appreciating to 64.03 against the dollar (intra-day) at the added to the lift.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 15 2017. 16:48 IST