NEW DELHI: Indian stock market hit record closing highs on Thursday led by banks, with the benchmark BSE Sensex breaching the 37,000-mark for the first time earlier on the day of expiry of monthly derivatives contracts, Reuters reported.
The broader NSE Nifty ended 0.32 per cent higher at 11,167.3 after hitting a life-high of 11,185.85 earlier in the session.
The BSE index hit a record high for a third consecutive session before ending up 0.34 per cent at 36,984.64. The benchmark took only 13 trading sessions to jump from 36,000 to 37,000.
Bank shares gained as more state-run lenders lined up to enrol for a scheme for faster bad-loan resolution. State Bank of India closed more than 5 per cent higher.
“Better Q1FY19 results from heavyweights and outperformance of PSU banks coupled with appreciation in the rupee supported the main indices to touch another high. Additionally, the prospects of consumption story on the back of reduction in GST rates and good monsoon is restoring investors confidence in the market,” said Vinod Nair, Head of Research, Geojit Financial Services.
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