New Delhi, May 26: On the day Prime Minister Narendra Modi completed his three years in office, the Sensex greeted him with a record high of 31,031.76 mark, highest ever in history. Earlier in the day, shortly after the Market opened, Nifty hit a record high crossing its earlier mark of 9532.6, while the Sensex was trading over 0.25 percent higher. As the investors continued to dump the stocks, Videocon Industries continued to drop for the third consecutive session.
On May 26, 2014, ahead of Narendra Modi’s swearing-in ceremony before he took over as the Prime Minister of India, the Sensex had surged over the psychological 25,000 level. The CNX-Nifty had also gone up over one-week high.
In April this year, BSE Sensex closed above the 30,000-mark and Nifty hit an all-time high as well as closed at a new height. The BSE Sensex had touched a high of 30,007.48 points. This week, the Sensex has touched new highs and went beyond 31,000 for the first time in history. Over 35 stocks on NSE also hit a fresh 52-week high on Friday, May 26. According to the reports, while 16 shares were trading in red in the afternoon, a total of 35 shares were trading in green in Nifty50 index.
Prime Minister Narendra Modi also inaugurated India’s longest bridge, the Dhola-Sadiya bridge or Bhupen Hazarika Setu, in Assam’s Tinsukia district which connects Assam to Arunachal Pradesh making travel between the two states quicker and cost effective opening up more ways for trade and business between the two states.
“The three years of Modi government that has been a wonderful development for India and it has really created a base for Indian economy to grow at much faster rate for faster economic development. I think there is long way to and I am extremely bullish on equity investing in India,” said Small cap czar Porinju Veliyath, reported ETNow.
With the opening of the 9.15-kilometres long Dhola-Sadiya bridge, the travel time between Assam and Arunachal Pradesh will be reduced to just one hour as the distance will shrink by 165 kilometres. Built at a cost of Rs 950 crore, the bridge has been constructed using hydraulic rigs and seismic buffers since the zone is highly-seismic. Dhola-Sadiya bridge will facilitate easy movement of Army troops across the states. According to the reports, the bridge is also capable of carrying heavy armored vehicles and tanks of the Indian Army.