Sensex jumps over 200 points to hit 55,000-mark for first time; Nifty above 16,400

Delhi, New Delhi: On Friday, equity indices soared to new highs, with the benchmark BSE Sensex breaking above the psychological barrier of 55,000, boosted by increases in banking and finance companies. In early trade, the 30-share Sensex rose 214 points, or 0.39 percent, to 55,058; the broader NSE Nifty up 66 points, or 0.41 percent, to 16,431.

 

Investor confidence was boosted when the country’s retail inflation fell due to improved supply, and the government pledged support to help the economy weather the pandemic’s economic storm.

 

Last month, annual inflation slowed to 5.59 percent, down from 6.26 percent in June.

The Dow and S& P 500 closed at all-time highs, extending their gains. Experts say that a steady increase in major economic indicators has raised mood and fought rising inflation.