New Delhi, July 25: After sworn-in Ram Nath Kovind as the 14th President of India, Nifty reached a record high of 10,000 mark, Sensex soared to its lifetime high of 32,374.30 by rising by 128.43 points.
The peak is attributed to widespread buying, spurred by strong results and upbeat global cues. Experts claim that the continuous rally of global markets coupled with influx of foreign investments have kept the bull Run going in stock markets.
Interestingly, Ram Nath Kovind oath was administered by CJI in the Parliament House today. Kovind is the 2nd Dalit President after KR Narayanan in 1997. Born in a mud hut in Kanpur Dehat, UP, Kovind went on to become Central Government Advocate in the Delhi HC, before serving as the personal assistant to former PM Morarji Desai. He was the 35th Governor of Bihar.
At 10.33 AM, Nifty was trading flattish at 9,969.65 while Sensex was moderately in the green at 32,260.73. Impressive quarterly showings by Reliance Industries on Friday and HDFC Bank on Monday have boosted investor sentiments.
Hero MotoCorp, Tata Steel and Bharti Airtel were the major gainers while Lupin, Cipla, ONGC, Wipro and HCL Tech were losing the most.
Meanwhile, the rupee weakened by 5 paise to trade at 64.39 against the US dollar in opening session at the Interbank Foreign Exchange. The rupee had shed 2 paise to end at 64.34 against the US currency yesterday.