Sensex, Nifty hit record highs; banks gain

Mumbai: Sensex and Nifty rose to a record high in early trading on Wednesday, as blue chips such as ICICI Bank extended recent gains bolstered by buying from foreign institutional investors.

Nifty rose as much as 0.50 per cent to an all-time high of 6,622.80 while the Sensex also rose 0.5 per cent to a lifetime high of 22,162.52 points.

'Overseas investors have helped underpin gains, with net purchases in shares reaching $2.53 billion in March,' according to regulatory data.

Asian shares raced to two-week highs on Wednesday, with investor confidence, getting a much needed boost from upbeat US data and lingering hopes China may take steps to stimulate its sagging economy. ICICI Bank rose 1.3 per cent while Tata Motors gained 1.5 per cent.