Sensex crosses 36,000 mark, Nifty opens at record 11,000

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Continuing its upward swing, the Sensex today crossed the 36,000 mark. In a record high, the Bombay Stock Exchange (BSE) opened at 35,931.28 and quickly surged to 36,004.
Nifty crossed the 11,000 mark and opened at 11,014. The surge in the market comes at a time when Prime Minister Narendra Modi is attending the World Economic Forum in Davos.
The International Monetary Fund (IMF) yesterday (Monday) predicted that India will grow at 7.4 per cent in 2018. The IMF figures were released on the sidelines of the WEF in Davos.
Recently, the World Bank report also projected India's economic growth rate to be around 7.3 per cent in 2018 and 7.5 per cent in 2019 and 2020.
The rupee rose by 5 paise today to trade at 63.82 against dollar at interbank forex market today.
Impressive performance by oil and gas, and IT sectors have added to the market cheer in addition to uptick in foreign fund inflows and positive global cues.
According to experts, the record closing of Wall Street after lawmakers agreed on a budget deal to reopen the US government have bolstered the market sentiments. Asian markets performing well is another incentive.
Best performers during initial trade were Axis Bank, Infosys, Reliance Industries, ONGC, Coal India, Tata Steel, Yes Bank, Bajaj auto, SBI, ICICI Bank, Dr Reddy's, Kotak Bank, HDFC Ltd, and Hero MotoCorp with gains of up to 2.16 per cent.

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