<p>Mumbai: Benchmark Sensex hit the historic 83,000 level for the first time on Thursday and the Nifty settled at a lifetime high after a rally in blue-chip shares, surge in global markets and foreign fund inflows.</p><p>A sharp fag-end rally drove the 30-share BSE Sensex to the 83,000 level for the first time. </p>.Markets snap two-session rally; Sensex drops 400 pts.<p>The barometer surged 1,593.03 points or 1.95 per cent to hit its lifetime intra-day peak of 83,116.19 in the last hour of trade. The index closed at a record high of 82,962.71, up by 1,439.55 points or 1.77 per cent.</p><p>The NSE Nifty surged 470.45 points or 1.89 per cent to settle at a record closing high of 25,388.90. The benchmark hit its fresh all-time intra-day high of 25,433.35, a jump of 514.9 points or 2 per cent. Nifty and Sensex opened higher and traded in a range till late afternoon trade.</p><p>Among the 30 Sensex firms, Bharti Airtel, NTPC, JSW Steel, Mahindra & Mahindra, Adani Ports, Tech Mahindra, Larsen & Toubro, Tata Steel, State Bank of India and Kotak Mahindra Bank were the biggest gainers.</p><p>Nestle emerged as the only laggard from the blue-chip pack.</p><p>While the session remained subdued for the most part, strong buying in heavyweight stocks across sectors propelled the indices sharply upward in the final hours, Ajit Mishra – SVP, Research, Religare Broking Ltd.</p><p>In Asian markets, Seoul, Tokyo and Hong Kong settled with significant gains while Shanghai ended marginally lower.</p><p>European markets were trading higher. Wall Street ended with sharp gains on Wednesday.</p><p>"Latest US inflation numbers are mildly positive for markets. August CPI inflation coming at 0.2 per cent has brought down the 12-month inflation to 2.5 per cent from 2.9 per cent earlier.</p><p>"This paves the way for a rate cut by the Fed in September. But since core inflation continues to remain high at 3.2 per cent the Fed is likely to be cautious and refrain from a 50 bps rate cut, finally settling for a 25 bps rate cut," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.</p><p>Foreign Institutional Investors (FIIs) bought equities worth Rs 1,755 crore on Wednesday, according to exchange data.</p><p>FIIs turning buyers in the cash market during the last three days is another indication that the market will continue to be resilient, Vijayakumar added.</p><p>Global oil benchmark Brent crude climbed 1.39 per cent to USD 71.59 a barrel.</p><p>The BSE benchmark dropped 398.13 points or 0.49 per cent to settle at 81,523.16 on Wednesday. The NSE Nifty declined 122.65 points or 0.49 per cent to 24,918.45.</p><p>Things to track in the morning</p><p>SC verdict on Kejriwal</p>
<p>Mumbai: Benchmark Sensex hit the historic 83,000 level for the first time on Thursday and the Nifty settled at a lifetime high after a rally in blue-chip shares, surge in global markets and foreign fund inflows.</p><p>A sharp fag-end rally drove the 30-share BSE Sensex to the 83,000 level for the first time. </p>.Markets snap two-session rally; Sensex drops 400 pts.<p>The barometer surged 1,593.03 points or 1.95 per cent to hit its lifetime intra-day peak of 83,116.19 in the last hour of trade. The index closed at a record high of 82,962.71, up by 1,439.55 points or 1.77 per cent.</p><p>The NSE Nifty surged 470.45 points or 1.89 per cent to settle at a record closing high of 25,388.90. The benchmark hit its fresh all-time intra-day high of 25,433.35, a jump of 514.9 points or 2 per cent. Nifty and Sensex opened higher and traded in a range till late afternoon trade.</p><p>Among the 30 Sensex firms, Bharti Airtel, NTPC, JSW Steel, Mahindra & Mahindra, Adani Ports, Tech Mahindra, Larsen & Toubro, Tata Steel, State Bank of India and Kotak Mahindra Bank were the biggest gainers.</p><p>Nestle emerged as the only laggard from the blue-chip pack.</p><p>While the session remained subdued for the most part, strong buying in heavyweight stocks across sectors propelled the indices sharply upward in the final hours, Ajit Mishra – SVP, Research, Religare Broking Ltd.</p><p>In Asian markets, Seoul, Tokyo and Hong Kong settled with significant gains while Shanghai ended marginally lower.</p><p>European markets were trading higher. Wall Street ended with sharp gains on Wednesday.</p><p>"Latest US inflation numbers are mildly positive for markets. August CPI inflation coming at 0.2 per cent has brought down the 12-month inflation to 2.5 per cent from 2.9 per cent earlier.</p><p>"This paves the way for a rate cut by the Fed in September. But since core inflation continues to remain high at 3.2 per cent the Fed is likely to be cautious and refrain from a 50 bps rate cut, finally settling for a 25 bps rate cut," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.</p><p>Foreign Institutional Investors (FIIs) bought equities worth Rs 1,755 crore on Wednesday, according to exchange data.</p><p>FIIs turning buyers in the cash market during the last three days is another indication that the market will continue to be resilient, Vijayakumar added.</p><p>Global oil benchmark Brent crude climbed 1.39 per cent to USD 71.59 a barrel.</p><p>The BSE benchmark dropped 398.13 points or 0.49 per cent to settle at 81,523.16 on Wednesday. The NSE Nifty declined 122.65 points or 0.49 per cent to 24,918.45.</p><p>Things to track in the morning</p><p>SC verdict on Kejriwal</p>