Sensex Hits New Record High; Nifty Back Above 11,900 points

Benchmark indices opened the day higher, with stock buying in frontline heavyweight stocks including the likes of ICICI Bank AND Reliance Industries, which have touched record highs.

The Sensex today hit a new record high of 40,323 points, surpassing a record high of 40,312.07 points hit in the month of July. The rally was largely on account of a cut interest rates by the US Federal Reserve, taking the gains on the Sensex to 5-straight days.

Global markets were buoyant after the US S&P 500 hits a new record high, following a cut in interest rates by the US Federal Reserve.

State Bank of India and Zee Entertainment were the top gainers in trade, however, telecom stocks were once again among the losers. Both Bharti Airtel and Bharti Infratel lost ground in trade. Zee was up a huge 6 per cent in trade, while SBI jumped 4 per cent, as analysts remained upbeat on the business prospects, following management guidance.

Shares in HCC jumped almost 15 per cent after reports that lenders would consider a bid for Lavasa. The Nifty and the Sensex are expected to remain volatile today, given that it also expiry for the F&O Oct series.

Meanwhile, the rupee opened marginally higher by 12 paise at 70.77 to the US dollar.