Sensex creates history, crosses 35,000 mark: 5 things you should know

Benchmark index Sensex on Thursday was ona roll and created history. Sensex crossed the 35,000 mark for the first time ever. 

Key indices, Sensex and Nifty on Thursday surged to their record lifetime highs after clocking record closing at 35,081 and 10,788 levels, respectively. 

While the Sensex rose more than 390 points to hit a fresh life high of 35,476, Nifty touched a new high of 10,887, rising nearly 100 points from Wednesday's close. 

The excitement and jubilation were palpable on D-Street as Sensex topped 35000 despite weak global cues that saw bourses in Europe, the US and several Asian countries falling.

Indian indices touched a new record on the back several market-friendly news like government scaling down additional borrowing, an expectation of some major changes in goods and services tax, easing in crude prices and rupee rising 16 paise to 63.88 against the US dollar.

here are the key things youneed toknow about Sensex's entry into the middle age: 

1.The reasons behind Sensex's historical mark are the positive news of the government scaling down additional borrowing, an expectation of some major changes in goods and services tax, easing in crude prices and the rise of rupee at 16 paise to 63.88 against the US dollar. 

2. The gains in the key indices were led by a rise in shares of banks and benchmark heavyweights. The rally in bank stocks came over the news of government planning to reduce additional borrowing allayed fears of widening fiscal deficit ahead of the Budget, leading to softness in yields and triggering buying in banking stocks.

3. However, not all sector scould join the celebration. In fact, sector-wise, the rally was driven mostly by BFSI, IT, pharma, metals and select FMCG stocks and other key sector-specific indices traded in the red.

4. On Thursday, all the sectoral indices, led by banking, FMCG and capital goods were trading in the positive zone with gains up to 1.92 per cent. The 50-share NSE Nifty gained 98.55 points, or 0.91 per cent, to trade at lifetime high of 10,887.10.

5.Brokers said continued buying by foreign funds as well as retail investors after the government's decision to slash its additional borrowing requirement for the current fiscal to Rs 20,000 crore from Rs 50,000 crore, estimated earlier and encouraging Q3 earnings by some bluechip companies lifted the key indices to new highs.