A man stands in front of the Bombay Stock Exchange (BSE) in Mumbai, India, April 1, 2019. India's benchmark 30-share equity index Sensex touched a record high of 39,000-mark for the first time on Monday on the expectation of easing global economic slowdown, revival in India's corporate earnings and a possible rate cut by the central bank later this week. (Xinhua/Stringer)
MUMBAI, April 1 (Xinhua) -- India's benchmark 30-share equity index Sensex touched a record high of 39,000-mark for the first time on Monday on the expectation of easing global economic slowdown, revival in India's corporate earnings and a possible rate cut by the central bank later this week.
Sensex touched 38,000-mark on Aug. 9, 2018, and took 157 days to travel 1,000 points to the new milestone on Monday. The rally of the last 1,000 points was led by Axis Bank, ICICI Bank, HCL Technologies and Infosys, said an analyst with the domestic brokerage.
So far, Sensex rose 340 points or 0.9 percent to reach the milestone of 39,000 mark.
The country's central bank Reserve Bank of India (RBI) will meet for its bi-monthly monetary policy on Thursday and analysts expect another 25 basis point rate cut that could further revive consumption and achieve economic growth.
In February, RBI reduced repo rate by 25 basis points after a gap of 18 months and a further cut would also help improve the political sentiment ahead of the parliamentary elections, the analyst said.
At 12:06 p.m., Sensex operated at 38,955.30 points, up 282.39 points or up 0.73 percent from the previous close.
