Nifty hits new all-time high

Sensex closes above 30,000; optimism over new NPA policy takes banking index to a new high

The sharp rally in banking stocks pushed the benchmark Nifty to a new record high on Thursday. The 50-share index closed at 9,359, up 47.9 points, or 0.5 per cent. The Sensex gained 231.4 points, or 0.8 per cent, to close at 30,126, just eight points below its record high.  The broader markets, too, witnessed a similar trend with both the mid-cap and small indices closing higher by 0.5 per cent and 0.36 per cent, respectively.

The banking stocks rallied on the back of optimism about the government’s decision to bring an ordinance to empower the Reserve Bank of India (RBI)