Sensex, Nifty scale fresh lifetime highs ahead of RBI policy decision

Mumbai: Breaking all previous records, the BSE Sensex advanced by over 80 points to hit a new peak of 37,690.23, while the Nifty scaled a fresh high of 11,378.95 in opening trade ahead of the Reserve Bank’s bi-monthly policy meet outcome due later in the day.

The 30-share index surged 83.65 points, or 0.22 per cent, to an all-time high of 37,690.23.

The gauge had gained 1,110.21 points in the previous seven record-setting sessions and closed at an all-time high of 37,606.58 points in the previous session.

The broader NSE Nifty too hit a new high by rising 22.45 points, or 0.19 per cent, to 11,378.95.

All sectoral indices led by oil & gas, FMCG, PSU, metal and banking stocks rose up to 0.95 per cent.

Brokers said investors were seen raising bets ahead of the monetary policy announcement, and foreign institutional investors too showed buying interest.

Shares of Bajaj auto, Vedanta, TCS, Bharti Airtel, Kotak Bank, IndusInd Bank, M&M, ITC, SBI, Maruti Suzuki, Asian Paints, RIL, Coal India, Axis Bank and Yes Bank, rose up to 1.64 per cent.

Among the top losers were Tata Motors, Axis Bank, NTPC, Infosys and HDFC, falling up to 3 per cent.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 572.21 crore, while domestic institutional investors (DIIs) sold shares worth a net of Rs 290.87 crore yesterday, provisional data showed.

Asian stocks edged higher, following overnight gains in Wall Street, as a report of attempts to renew talks between the US and China eased trade war fears, but investors will be keeping a close eye on US Fed policy outcome due today.

Japan’s Nikkei rose 0.54 per cent, Hong Kong’s Hang Seng edged up 0.35 per cent and Shanghai Composite Index rose 0.21 per cent in early trade.

The US Dow Jones Industrial Average ended 0.43 per cent higher yesterday.

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