Sensex strong, Nifty inches towards record high; Nifty Bank up 300 pts

Equity benchmarks remained strong in noon, with the Nifty inching towards its record high of 10,178.95 level hit on September 19.

The 30-share BSE Sensex was up 234.31 points at 32,416.53 and the 50-share NSE Nifty rose 63.30 points to 10,159.70.

The BSE Midcap underperformed benchmarks, trading flat but the BSE Smallcap index gained half a percent. About 1,389 shares advanced against 983 declining shares on the BSE.

Nifty Bank index surged over 300 points on lower retail inflation, higher industrial output growth and hope of early resolution of telecom sector.

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Posted in: Indian Market Tips