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Sensex at new high; global cues, banks stocks lift equity markets

Mumbai, (IANS) The 30-scrip Sensitive index (Sensex) of the BSE on Monday provisionally closed at a fresh high, cheered by positive global cues and healthy buying witnessed in banking, metal and capital goods stocks.

Shares of major banks rose and added to the gains on reports that Prime Minister Narendra Modi will review the measures taken by the Reserve Bank of India (RBI) to resolve the non-performing assets (NPA) issue of the Indian state-run banks.

Besides, investors’ sentiments were buoyant after the GST Council on Sunday unanimously agreed on the July 1 rollout of the Goods and Services Tax (GST) regime.

At 3.30 p.m., the wider Nifty of the National Stock Exchange (NSE) rose by 69.50 points or 0.72 per cent to provisionally close at 9,657.55 points.

The Sensex, which opened at 31,168.98 points, closed at a new high of 31,311.57 points — up 255.17 points or 0.82 per cent from its previous close at 31,056.40 points.

The Sensex touched a high of 31,362.15 points and a low of 31,163.35 during intra-day trade.

However, the BSE market breadth was bearish — with 1,479 declines and 1,200 advances.

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