Stock market rings in FY 2019-20 with highest recorded Sensex

Chennai: After a big rally in March, Indian markets extended gains today, hitting new milestones. The Sensex jumped over 350 points to hit 39,000 for the first time in the beginning of a new financial year today 1 April 2019, overtaking its earlier all-time high of 38,989, hit in August last year.

Despite several challenges including the NBFCs-triggered liquidity crisis as well as global trade tensions and high crude oil prices, the Indian equities market emerged as one of the best performers globally in 2018-19.

“The Indian indices – S&P BSE Sensex and NSE Nifty50 – both have outperformed major world indices in 2018-19,” HDFC Securities’ Retail Research Head Deepak Jasani said. The NSE benchmark Nifty50 was also witnessing strong gains and crossed the 11,710-mark.

Asian stocks rose on Monday, as signs of progress in US-China trade talks and firmer Wall Street shares supported sentiment. Australian stocks climbed 0.85 per cent, South Korea’s KOSPI 1.1 per cent and Japan’s Nikkei 1.6 per cent. Money market remained shut today on account of annual closing of accounts.

NT Bureau