Sensex hits record high as GST cuts boost sentiments; banking, FMCG stocks rise

Mumbai: The benchmark BSE Sensex hit a fresh all-time high of 36,749.69 points towards the fag end of trade on Monday led by healthy buying in banking, FMCG and consumer durable stocks.

Investor sentiments were boosted after Goods and Services Tax on many items including electronic appliances were slashed on Saturday, analysts said.

At 3.30 p.m., the BSE Sensex provisionally closed at 36,718.60 points — higher by 222.23 points and 0.61 per cent — from the previous close of 36,496.37 points.

The wider Nifty50 on the National Stock Exchange closed the day’s trade at 11,084.75 points, up 74.55 points or 0.68 per cent from the previous close of 11,010.20 points.

As mentioned the Sensex touched an all-time high of 36,749.69 points, and an intra-day low of 36491.83 points. The previous record high on Sensex was 36,747.87 hit on July 18.

The BSE market breadth was bullish with 1,529 advances and 1,061 declines.

On Sensex, the top gainers were Vedanta, Adani Ports, ITC, Bharti Airtel and ICICI Bank, while Hero MotoCorp, Bajaj Auto, Wipro, HDFC Bank and ONGC were among the major losers.