Risk appetite improved on the back of a rally in global markets after the US stocks hit a fresh record high on Monday
Illustration: Uttam Ghosh/Rediff.com
The BSE Sensex breached the 32,000-mark by climbing 276 points to close at over one-month high of 32,158.66 ahead of key macroeconomic data, extending the gains for the fourth day in a row.
The broader NSE Nifty scaled a high of 10,097.55 before closing up by 87 points, or 0.87 per cent at 10,093.05 – the highest closing since August 1 when it settled at 10,114.65.
Risk appetite improved on the back of a rally in global markets after the US stocks hit a fresh record high on Monday as worries about North Korea and impact of Hurricane Irma on the US faded.
Building up of positions by participants ahead of July IIP data, and retail inflation for August, also added to the buoyant sentiment.
The BSE Sensex stayed in the positive terrain through the session and hit a high of 32,172.46 before settling higher by 276.50 points, or 0.87 per cent, at 32,158.66 on continuous pumping of funds by domestic institutional investors (DIIs).
This is the highest closing since August 7 when the closing figure stood at 32,273.67. The index had rallied 220.19 points in the previous three sessions.
Covering up short positions in some counters by speculators fearing buying activity to pick up in the coming session supported the upside, brokers said.