Sensex, Nifty scale new records, banking, telecom stocks lead

Mumbai: Market benchmark Sensex and Nifty on Monday advanced up to 0.36 per cent to close at fresh record levels largely on the back of gains in banking, energy and telecom stocks.

The 30-share BSE Sensex also hit an all-time high of 37,805.25 in day trade, breaking its previous intra-day record level of 37,711.87 touched on August 1, as index major Reliance Industries, ICICI Bank and Axis Bank advanced.

The barometer closed up by 135.73 points, or 0.36 per cent, at 37,691.89, its all time closing high, even as 17 of its constituents ended in the red.

The broader NSE Nifty advanced 26.30 points or 0.23 per cent to end at a historic high of 11,387.10, bettering its previous record close of 11,360.80 hit on Friday.

The 50-share index breached the 11,400 mark for the first time in day trade and touched record intra-day high of 11,427.65 on gains in consumer durables, PSU, metal and auot stocks.

Fresh buying by domestic institutional investors (DIIs) and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment, brokers said.

Asian markets ended mixed after initial gains as investors continued to monitor the US-Sino trade spat.