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

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.