Reaching fresh milestones, stock markets in India saw a historic rally on Tuesday as domestic stocks continued an overjoyed run for the fifth straight day. Riding on the wave of optimism, the BSE Sensex zoomed past the 36,000-level and the NSE Nifty breached the 11,000 mark for the first time.
Both the key indices were driven by strong gains mainly in domestic metal, banking, IT and infra shares amid earnings optimism. The major trigger behind the boost in investors’ optimism was the International Monetary Fund (IMF’s) forecast that India’s GDP growth will hit 7.4 per cent in 2018-19 and the country will regain the status of the world’s fastest growing major economy.