Sensex, Nifty hit record highs on Thursday!

Mumbai: Equity benchmark indices Sensex and Nifty surged sharply to reach record highs on Thursday, driven by buying in IT, consumer durables and financial stocks. This happened amid expectations of a robust corporate performance, PTI reported.

Besides, investors lapped up select banking stocks expecting a status quo in the interest rate decision of the RBI's monetary policy committee, analysts said. The six-member rate-setting panel, which began its deliberation on Wednesday, will announce the decision on Friday.

The 30-share BSE Sensex surged 350.81 points or 0.47 per cent to settle at its lifetime high of 74,227.63. During the day, the index oscillated between the high of 74,501.73 and the low of 73,485.12.

The broader NSE Nifty also hit its fresh peak of 22,514.65, gaining 80 points or 0.36 per cent. As many as 31 components of the 50-share benchmark ended with gains.

Both indices had ended lower in the previous two sessions.

On March 7, Sensex recorded its previous peak of 74,119.39. Nifty scaled its previous high of 22,493.55.

Among the Sensex constituents, 20 stocks ended the session in green with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers.

TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserve were the other gainers.

In contrast, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed the trading with losses.

BSE LargeCap gained 0.34 per cent and smallcap rose 0.54 per cent, while the midcap index lost marginally by 0.11 per cent.

Meanwhile, global oil benchmark Brent crude climbed 0.36 per cent to USD 88.67 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹ 2,213.56 crore on Wednesday, according to exchange data.

On Wednesday, the BSE benchmark Sensex declined by 27.09 points or 0.04 per cent to settle at 73,876.82. The NSE Nifty declined 18.65 points or 0.08 per cent to 22,434.65.