Sensex hits record-high on economic reforms

The benchmark BSE Sensex hit a record-high by soaring 260.68 points to 27,358.85 during mid-session trade today on increased buying by investors as the recent economic reforms have instilled confidence that the country can better withstand potential rate hikes in the US. The Sensex shot up by 260.68 points, or 0.96%, to hit an all-time high of 27,358.85, surpassing its previous record of 27,354.99 touched on September 8.

The National Stock Exchange index Nifty also jumped by 76.75 points, or 0.94%, to trade at 8,167.20, just 13 points shy from its all-time high of 8,180.20 reached on September 8.

The major gainers which supported the key indices were Infosys, Tata Consultancy, Reliance Industries, Maruti, Gail, HDFC, L&T, ONGC and Wipro. The government had yesterday relaxed rules for FDI in the construction sector by reducing minimum built-up area as well as capital requirement and easing the exit norms. Among other significant blue-chips, realty major DLF Ltd shot up by 3.70%, Unitech (6.18%), HDIL (4.10%) and Sobha Developers (1.62 %).