Markets maintain record run on earnings boost; Sensex scales 54,000-mark for 1st time

Banking and finance stocks saw hectic buying after largest lender SBI reported a 55 per cent jump in standalone net profit at Rs 6,504 crore for the June quarter, helped by a decline in bad loans.

Mumbai: Equity benchmarks clambered up to fresh lifetime highs on Wednesday, with the Sensex surging past the 54,000-mark for the first time, as stellar earnings whetted risk appetite amid supportive global cues. Banking and finance stocks saw hectic buying after largest lender SBI reported a 55 per cent jump in standalone net profit at Rs 6,504 crore for the June quarter, helped by a decline in bad loans. Surging for the third straight session, the 30-share BSE Sensex rallied 546.41 points or 1.02 per cent to end at its new record of 54,369.77, bettering the previous session's closing high. It scaled its lifetime peak of 54,465.91 during the session.