Indian equity benchmarks extended their winning run to fresh record closing highs on Thursday helped by gains in IT and metal shares amid positive global cues. Analysts awaited the outcome of the Reserve Bank of India's scheduled policy review due the next day.
While the central bank is widely expected to keep the benchmark rates at existing levels on Friday, Street will keenly watch out for a roadmap for the inevitable policy normalisation.
The S&P BSE Sensex index rose 123.07 points or 0.23 percent to end at 54,492.84 and the broader NSE Nifty50 index gained 35.80 points or 0.22 percent to settle at 16,294.60 -- both record closing highs. That marked the third straight day of record closing highs for both indices.
Sensex and Nifty registered all-time highs of 54,717.24 and 16,349.45 during the session respectively.
IT, metal and FMCG stocks were in high demand, but selling pressure in select financial stocks -- especially of PSU banks -- limited the upside on Dalal Street.
Bharti Airtel, Eicher Motors, ITC, Tech Mahindra, Tata Steel and JSW Steel -- ending between 2.20 percent and 3.86 percent higher -- were the top gainers among blue-chip stocks.
On the other hand, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance and Bajaj Finserv -- ending between 1.30 percent and 3.28 percent lower -- were the worst hit among the 24 laggards in the Nifty50 universe.
Reliance Industries, HDFC Bank, ITC and Bharti Airtel were the biggest boosts for Sensex.
SBI saw profit booking, and was the top laggard on both Sensex and Nifty50, a day after the country’s largest lender beat Street estimates with a net profit of Rs 6,504 crore for the June quarter.
Vodafone Idea shares tanked a day after billionaire industrialist Kumar Mangalam Birla stepped down as the private sector telecom operator's non-executive chairman.
Meanwhile, European shares hit all-time highs amid strong earnings from Novo Nordisk and Siemens before trimming gains. Weakness in mining and banking shares played spoilsport. The pan-European STOXX 600 index inched up 0.3 percent, extending gains that took it to all-time highs this week.
Analysts eyed a policy decision from the Bank of England due later in the day.
Earlier in the day, Asian shares held on to recent gains despite hawkish remarks from a senior Fed official that boosted the dollar while weighing on risk appetite, and uncertainty about Chinese policy.
First Published: IST