Sensex Soars 255 Points; Nifty Ends Above 9650

BSE Sensex and NSE Nifty open higher

BSE Sensex and NSE Nifty open higher

After a strong opening, the BSE 30-share index hit a high of 31,362.15, before closing at a new record high of 31,311.57, up 255.17 points, or 0.82 per cent, breaking its previous record closing of 31,309.49 on June 5.

The Nifty Bank Index climbed 1.02 percent after touching a record high earlier in the session.

"Equity benchmarks started off the week on a positive note after seeing consolidation in previous two weeks, backed by positive Asian cues".

With Finance Minister Arun Jaitley providing relief to traders by extending the deadline for filing initial returns under the forthcoming Goods and Services Tax (GST) bill, the market opened with a surge in sensex by 122.68 points, with the current figure recorded at 31,179.08 points.

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The wider NSE Nifty rose by 71.75 points or 0.75 per cent to trade at 9,659.80 points.

Market heavyweight Reliance Industries also rallied after a report by Bank of America Merill Lynch that around 90 percent of Reliance Jio users may have subscribed to its promotional Prime membership plan.

Driven by the seriousness shown by policymakers to resolve the bad loan problem, banking stocks led by SBI, Axis Bank, HDFC Bank and ICICI Bank extended gains, rising by up to 1.94 per cent.

Broader markets looked mixed as the mid-cap index rose 0.07 per cent, while small-cap index was down 0.08 per cent.

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