Sensex, Nifty Close At Record Highs Powered By Gains In Banking Shares

Expectations of dovish monetary policy from the RBI on Friday to spur the economic growth in the country boosted positive sentiment on Dalal Sreet.

The equity benchmark indices rallied for the second straight session and closed at record highs on Wednesday, powered by gains in banking and financial services shares. The investor sentiment has been bullish for equities after the Nifty 50 index surpassed its important psychological level of 16,000 and Sensex topped 54,000 for the first time on hopes of faster economic recovery. The Sensex rose as much as 642.55 points to touch an all-time high of 54,465.91 and Nifty 50 index touched a record high of 16,290.20 in intra-day trading. The Sensex ended 546 points or 1 per cent higher at an all-time closing high of 54,369.77 and Nifty 50 index advanced 128 points or 0.79 per cent to close at record high of 16,258.80. Expectations of dovish monetary policy from the RBI on Friday to spur the economic growth in the country also boosted positive sentiment on Dalal Sreet and spurred buying interest in banking and financial services shares, analysts said. Five of 11 sector gauges compiled by the National Stock Exchange ended higher, led by the Nifty Financial Services index's over 2.5 per cent gain. The Nifty Bank and Private Bank indices also climbed over 2 per cent.