Sensex closes on record high, Nifty goes beyond 10,650 for 1st time over optimistic earnings hopes

Key indices on Thursday ended the trade on positive note as both the benchmark indices Sensex and Nifty closed on record highs. The BSE Sensex jumped 70.42 points to end at 34,503.49, while the broader NSE Nifty finished at 10,651.20, up 19 points.

The 30-share Sensex, after a cautious start, gathered momentum and rallied to 34,558.88, before ending at 34,503.49, a rise of 70.42 points, or 0.20 per cent.

It broke its previous closing high of 34,443.19 hit on January 9.

The 50-share Nifty, after range-bound morning trade, spurted to touch an all-time high of 10,664.60 on a flurry of buying.

It finally settled 19 points, or 0.18 per cent higher at 10,651.20, surpassing its previous closing record of 10,637 hit on January 9.

Meanwhile, shares of IndusInd also rose as the bank today posted a 24.72 per cent increase in net profit to Rs 936.25 crore for the quarter ended on December 31, 2017.

The bank had recorded a net profit of Rs 750.64 crore in the October-December quarter of last fiscal.

Total income of the lender also increased to Rs 5,473.54 crore during the quarter under review, up 16.05 per cent as against Rs 4,716.13 crore over the corresponding period of the previous fiscal, IndusInd Bank said in a BSE filing.

The gross non-performing assets (NPAs) of IndusInd Bank increased to 1.16 per cent of the total advances during the third quarter of the current fiscal, against 0.94 per cent at the end of third quarter of 2016-17.

(With inputs from PTI)