Markets open at record high: Nifty hits 11,600 for first time, Sensex gains 160 points

WION Web Team
Mumbai, Maharashtra, India Published: Aug 23, 2018, 09:37 AM(IST)

File photo. Photograph:( PTI )

Stock markets started higher on Thursday with BSE Sensex hitting a new all-time high and NSE Nifty breaching the psychological mark of 11,600 for the first time in stock market history as the deadline loomed for fresh US tariffs on China. 

Moreover, speculations that US President Donald Trump’s political position could be threatened by the legal woes of two former advisers also hurt the global sentiment.

BSE Sensex rises over 160 points, while the Nifty 50 trades above 11,600 for the first time.

Asian stocks traded mixed, while the dollar rallied as investors awaited a meeting of global central bankers after the Federal Reserve signalled no change to its pace of monetary policy tightening. 

Meanwhile, the rupee fell 27 paise against the dollar to trade near 70.08 again amid strong demand for the US currency after the US Fed released minutes of its policy meet yesterday. At the Interbank Foreign Exchange, the local currency opened at a low of 70.03 a dollar, down from its previous close of 69.81, and weakened further to trade at a 70.08, down by 27 paise, it added.

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