Sensex, Nifty Advance To Record Highs Led By Reliance Industries, Infosys

Buying was visible across the board as seventeen of 19 sector gauges compiled by the BSE were trading higher led by Energy index's 2.5 per cent gain

The Indian equity benchmarks advanced to new record highs on Monday driven by gains in Reliance Industries, Hindustan Unilever, Larsen & Toubro, Infosys, Axis Bank, ICICI Bank and Bharti Airtel. The Sensex rose as much as 350 points to hit record high of 58,480.20 and Nifty 50 index touched an all-time high of 17,421.55. Strong trend in other Asian markets also boosted the bullish sentiment among investors. Asian shares edged higher on Monday as a disappointing US payrolls report promised to keep policy there super-loose for longer, but also clouded the outlook for global growth and inflation. As of 9:23 am, Sensex was up 282 points at 58,412 and Nifty 50 index was up 83 points at 17,405. A holiday in the United States made for thin conditions and kept MSCI's broadest index of Asia-Pacific shares outside Japan to a small gain of 0.2 per cent, though that was the highest since late July. Japan's Nikkei added 1.7 per cent, extending a rally on hopes a new prime minister there would bring added fiscal stimulus.