BSE’s benchmark Sensex rallied to its highest 31000 mark for the first time on friday. The NSE’s Nifty also crossed 9600, both rallying to a per cent each, due to strong gains in ITC and Reliance Industries rising to three and 2.5 percent each.
The sensex closed at 31028.21. The barrier was topped with the completion of Modi’s government three year completion, which indicated the investors might have view of sustained economic growth. This may be due to goods and service tax reform, coupled with positive earnings visibility and strong institutional flows, could be key factors behind the market rally.