Sensex, Nifty hit record peaks in early trade

Sensex, Nifty hit record peaks; IT, banking stocks gain. Asian markets largely firm; U.S. mixed. FII selling, expensive valuations may limit upside. Fed likely to pause rate hikes in Sept. policy meet.

Equity benchmark indices Sensex and Nifty hit their record peaks in early trade on Thursday in continuation of their ongoing rally, amid a largely firm trend in Asian markets along with buying in IT and banking stocks.

Rallying for the 10th day running, the 30-share BSE Sensex climbed 304.06 points to 67,771.05 -- its all-time peak -- in early trade. The Nifty advanced 97.65 points to reach its lifetime high of 20,167.65.

Among the Sensex firms, Tata Steel, Tech Mahindra, Wipro, State Bank of India, Power Grid and JSW Steel were the major gainers.

Bajaj Finance emerged as the only laggard.

In Asian markets, Seoul and Shanghai were trading in the positive territory while Hong Kong quoted lower.

The U.S. markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.42 per cent to USD 92.28 a barrel.