Optimistic about likely rate cut by the Reserve Bank of India (RBI), Dalal Street opened on a firm note and hit fresh record highs on Thursday.
Stock markets stayed strongly bullish on Thursday till the end of the trading session due to positive sentiments of investors following historically-low monthly consumer inflation data which was released on Wednesday.
For the first time, the BSE benchmark Sensex crossed the 32,000-mark, surging over 232 points and, while Nifty also closed at a new peak 9,892, offering scope for the RBI to reduce key policy rates.
The BSE took 33 sessions to rise 1,000 points before it finally went beyond the psychologically significant 32,000. Higher Asian and European stocks also provided fodder after the US Fed chief, in a House testimony, signalled that the approach to higher rates will be steady, prompting investors here to buy more.