Sensex, Nifty scale fresh closing peaks

Mumbai: Market benchmark Sensex and Nifty on Wednesday scaled fresh closing peaks on hectic buying in banking, oil & gas and auto stocks amid positive trends from global markets as investors latched onto hopes of a trade deal between the US and China.

The 30-share Sensex rose by 199.31 points or 0.49 per cent to end at a new life-time high of 41,020.61 as 24 of its constituents ended in the green. The broader NSE Nifty gained 63 points or 0.52 per cent to settle at a new peak of 12,100.70.

According to analysts, sustained foreign fund inflow also buoyed the market sentiment. Foreign investors purchased shares worth Rs 4,677.75 crore on a net basis on Tuesday, provisional exchange data showed. Banking stocks advanced on rising expectations of a rate cut by the RBI. Yes Bank was the biggest gainer in the Sensex pack, rallying 7.65 per cent. SBI rose by 2.43 per cent after SBI Cards filed its IPO papers with

SEBI.