Sensex hits record high, Nifty reclaims 10,750; PSU Bank index up 2%

Benchmark indices rallied further in afternoon, with the Sensex hitting a fresh record high of 34,966.84 as almost all sectoral indices barring Auto traded higher.

Nifty PSU Bank index gained nearly 2 percent and IT index rallied 1 percent.

The 30-share BSE Sensex was up 172.20 points at 34,943.25 and the 50-share NSE Nifty rose 45.50 points to 10,746.00.

The gap between advances and declines narrowed further as about 1,497 shares declined against 1,155 advancing shares on the BSE against advances:declines ratio of 1:5 in morning.

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Posted in: Indian Market Tips