The bull run on India’s stock market continued unabated with shares hitting record highs in the opening trading hours on Friday, August 30, tracking gains in regional peers after US economic data eased growth concerns.
The S&P Sensex, the flagship index of the Bombay Stock Exchange (BSE) hit close to 82,397 just after opening on Friday – up by 0.33 from the previous day’s closing, while, the NSE Nifty 50 index rose to 25,235.9 – also up by 0.33 percent.
Traders both the benchmarks were trading at all-time highs, supported by expectations of a US rate cut in September and healthy domestic inflows.
A Reuters report said Asian markets also rose on Friday, with the MSCI’s broadest index of Asia-Pacific shares outside Japan up by 0.7 percent.
Most Wall Street equities also rose overnight, with the Dow Jones Industrial Average at a record closing high, on robust US economic data.
Market participants now await US core personal consumption expenditures data, the Fed’s preferred gauge of inflation, on Friday to confirm bets of the September rate cut.
In India, investors also await India’s April-June growth data, due after market hours.
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