Sensex closes at a record high of 39,057, Nifty at 11,713

Mumbai (Maharashtra) [India], Apr 2 (ANI): The BSE Sensex closed at a record high of 39,057 on Tuesday as equity indices extended gains for the fourth consecutive day amid a volatile trading session.
It opened at 38,988.57 and touched a high of 39,121.69 during the day before gathering a gain of 185 points.
On Monday, the Sensex had breached 39,000 mark for the first time ever but closed at 38,871. In August last year, it had hit an all-time high of 38,989.
The Nifty 50 closed 44 points higher at 11,713 with sectoral indices of PSU banks, realty, auto, and IT companies gained ground.
Among the prominent gainers were Tata Motors which was up 6.5 per cent, Bharti Airtel 4 per cent, Eicher Motors 2.8 per cent, Tata Consultancy Services 2.5 per cent and GAIL about 2 per cent.
Energy companies like Power Grid Corporation and Adani Power Ltd also closed over two per cent higher after the Supreme Court dismissed the controversial Reserve Bank of India (RBI) circular that gave banks to refer any account with a loan of more than Rs 2,000 crore to bankruptcy court if it is not resolved within 180 days of default.
However, Zee Entertainment, Bharat Petroleum, Bajaj Auto, and JSW Steel lost between two and three per cent.
The trading was extremely volatile throughout the day. Investors expected the RBI to cut its lending rate for a second consecutive time when its meeting ends on Thursday, just a week before the country heads for general elections.
Market experts said strong inflows from foreign institutional investors are expected to keep the sentiment positive. There is an expectation of continued policy reforms if the single largest party comes back to power after the General Elections beginning on April 11.
Meanwhile, most Asian stocks were in the positive zone with sentiment high after positive Chinese factory output data. Investors were also hopeful of the on-going US-China trade talks. (ANI)