Sensex soars over 400 points, hits 30,000 for first time on RBI rate cut

Mumbai: The benchmark BSE Sensex breached the 30,000-mark and the NSE Nifty zoomed to hit a lifetime high of 9,119.20 in opening trade today on buying in rate-sensitive stocks after RBI, in a surprise move, cut repo rate by 0.25 per cent.

The 30-share index crossed the 30,000-mark by surging 431.01 points, or 1.45 per cent, to trade at an all-time high of 30,024.74.

The gauge had rallied by 847.08 points in previous four sessions on the back of strong foreign fund inflows following a growth-oriented Union Budget.

All the sectoral indices, led by banking and realty, were trading in positive zone with gains up to 2 per cent.

On similar lines, the National Stock Exchange index Nifty breached the 9,100-mark for the first time by climbing 122.95 points, or 1.36 per cent, to 9,119.20.

Equity brokers said sentiments were buoyed largely on the back of RBI's surprise move to cut repo rate by 0.25 per cent to 7.5 per cent, accelerating buying activity, particularly in interest-sensitive stocks.

Among other Asian markets, Hong Kong's Hang Seng was down by 0.32 per cent, while Japan's Nikkei shed 0.66 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.47 per cent lower in yesterday's trade.