Thursday, 24 July 2014

Closing Summary, Market Synopsis: 24th July, 2014

Key benchmark indices rose to record highs on Thursday after cabinet approval for a higher foreign direct investment limit in insurance and a rejig in foreign debt limits reinforced optimism about the government's reform agenda. The Sensex rose to a life high of 26,292.66, surpassing its previous record high of 26,190.44 hit on July 8, while the Nifty hit a new peak for a second straight session at 7,835.65.

The Nifty rose 5.1 percent in the last eight consecutive sessions of gains compared to a 2 percent rise in the MSCI Asia Pacific Ex Japan index in the same period.

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