BSE Sensex, NSE Nifty hit record highs on Narendra Modi hopes, inflation

Sensex rises 288 pts to end at new record high of 26,390.96.

By: Reuters | Mumbai | Published:August 18, 2014 4:01 pm

 

BSE Sensex likely to open higher on strong FII flows. Reuters BSE Sensex likely to open higher on strong FII flows. Reuters

NSE Nifty index rose over 1 percent on Monday to a record high as blue-chips such as ICICI Bank surged after Prime Minister Narendra Modi vowed to fire up the bureaucracy to deliver results in his Independence Day speech , while easing wholesale inflation also helped.

 

The broader 50-share index rose as much as 1.14 percent to 7,880.50, surpassing its previous all-time high of 7,840.95 hit on July 25.

 

ICICI Bank rose 3.6 percent, while Larsen & Toubro (L&T) advanced 2.2 percent.