Indian Stock Exchange: Sensex scales 42,000 for the first time-ever, Nifty at record high

The Sensex on Thursday scaled the 42,000 mark for the first time-ever and Nifty hit its record peak in opening session tracking positive cues from global equities after the US and China signed an initial trade deal.

Other world stocks also inched ahead to a record high on Thursday after the United States and China signed an initial deal to defuse their 18-month trade war, though financial markets were wary as a number of thorny issues remained unresolved.

MSCI’s broadest index of world stocks firmed 0.04 per cent in early trade after closing at record level on Wednesday while its index on Asia-Pacific shares outside Japan rose 0.21 per cent.

Japan’s Nikkei rose 0.14 per cent while mainland China’s Shanghai composite index was almost flat.

US President Donald Trump and Chinese Vice Premier Liu He on Wednesday signed a deal that will roll back some tariffs and see China boost purchases of US goods and services by $200 billion over two years.

The Phase 1 deal, however, does not fully eliminate the tariffs while the $200 billion purchase targets, which include energy, farm and manufacturing products, look daunting to achieve.