BSE Sensex hits record closing high; metal stocks surge

BSE Sensex index rose 0.7 percent to a record closing high of 24,858.59.

By: Reuters | Mumbai | Updated: June 3, 2014 6:12:27 pm
bse-8 BSE Sensex rose 70 points in early trade ahead of RBI bi-monthly policy review.

BSE Sensex rose to a record close on Tuesday as metal firms such as Tata Steel surged on improving China’s factory and services data, with sentiment also supported after the central bank kept rates on hold and toned down its inflation rhetoric.

Tata Steel provisionally rose 6.7 percent while Sesa Sterlite ended higher 6 percent.

The benchmark BSE Sensex index provisionally rose 0.7 percent to a record closing high of 24,858.59, surpassing its previous milestone set on May 26.

The broader NSE Nifty index gained 0.7 percent to a record closing high of 7,415.85, surpassing its previous record hit on May 23.

Sentiment was also boosted by RBI Governor Raghuram Rajan virtually dumping his hawkish stance and easing liquidity to an extent after the policy review meet in the morning.

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