Sensex, Nifty rally to record highs; all eyes on RBI today
Markets rallied to record highs on Wednesday, with the Sensex ending just below the 30,000-mark and the Nifty finishing at 9,265.15, fuelled by bluechips RIL and Maruti. Investors are in a wait-and-watch mode ahead of the RBI's first bi-monthly policy review for 2017-18 due tomorrow. The central bank is widely expected to hold rates, but there are hopes of more steps being announced to address growing NPAs and excess liquidity, traders said.
The BSE 30-share index hit a high of 30,007.48 in intra-day trade, but slipped to 29,817.69 before settling at 29,974.24, up 64.02 points or 0.21 per cent. This surpassed its previous high of 29,910.22, recorded on April 3. The gauge had gained 289.72 points in the previous session on Monday amid sustained foreign capital inflows and a firming global trend.
Similarly, the broader 50-issue NSE Nifty touched 9,273.90 points on sustained foreign fund inflows. However, due to profit-taking at record levels, it shed some ground to close at 9,265.15, up by 27.30 points or 0.30 per cent. It broke the previous record of 9,237.85 reached on April 3.