Nifty new record high at 9,200; Sensex up 239 points
Rally in markets was mostly driven by policy stance revealed by US Fed that raised rate by 25 bps.
Mumbai: The National Stock Exchange's benchmark index Nifty opened deals with a new all-time high of 9,200 level. The 30-share benchmark index Sensex climbed 239 points.
The rally in markets was mostly driven by policy stance revealed by US Federal Reserve that it will keep interest rates in the range of 0.75 per cent to 1 per cent going ahead in the new fiscal.
The Bharatiya Janata Party's spectacular victory in Uttar Pradesh assembly elections also accelerated markets on hopes that BJP ruling at the Centre and in the states would put development works at full throttle.
Cigarette stocks surged as the GST Council yesterday proposed an additional cess on tobacco products. Among the gainers were ITC that rose 20.20 points at 288.65. VST Industries and Godfrey Phil were also trading in green with their stocks surging 198 and 35 points respectively.