There was more of buying as investors saw NPA resolution gaining traction after the Reserve Bank asked lenders to initiate bankruptcy proceedings against large defaulters.
Opening strong, 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.
"Equity benchmarks started off the week on a positive note after seeing consolidation in previous two weeks, backed by positive Asian cues".
Police Officer stabbed during protest in Darjeeling; CM alleges conspiracy
The GJM, an ally of the BJP, has refused to talk to the state government and insisted on tripartite negotiations on statehood. The GJM carried out a silent rally with the coffins of four protesters, who were killed during clashes with the police.
The 30-share index was trading higher by 146.23 points, or 0.47 per cent, at 31,202.63, with all the sectoral indices led by capital goods, auto, realty and FMCG moving in the positive terrain by gaining up to 0.73 per cent.
"The market is back to buoyed sentiment due to the relaxation in the return filing timeline to minimise the impact of transition to GST", said Vinod Nair, Head of Research, Geojit Financial Services Ltd. Some of the other gainers included Hindalco, Adani Ports, Vedanta, Bosch, Larsen & Toubro, Axis Bank and Power Grid. It was followed by Jyoti Structures (1.28 million), Swasti Vinayaka Art and Heritage Corporation (0.79 million) and Jaiprakash Associates (0.56 million). Axis Bank was the top gainer in Bank Nifty trading higher by almost 3% at Rs 524.95 per share.
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