Sensex, Nifty hit life highs; Jaitley adds to budget optimism

MUMBAI (Reuters) - The BSE Sensex and Nifty rose to record highs on Wednesday after Finance Minister Arun Jaitley's comment on Tuesday that "mindless populism" in policymaking needed to be checked stoke expectations of a pragmatic budget on July 10.

The benchmark, trading 1.2 percent higher, rose to a record high of 25,828.11. The Nifty also rose to a record high at 7,723.55.

Among the blue-chips, ICICI Bank gains 1.2 percent while Housing Development Finance Corp rose 1.4 percent.

Jaitley's comments that a high fiscal deficit and inflation are major challenges for India also added to expectations that he could unveil fiscal consolidation measures in his first annual budget, traders said.