Sensex, Nifty close at record highs on rate cut hopes

Mumbai: Benchmark equity indices ended at their life-time highs on Monday, with the BSE Sensex rallying 553 points and the NSE Nifty surging 166 points on emergence of broad-based buying after weak GDP data supported clamour for further rate cut by the RBI to boost the economy.

The 30-share Sensex also saw its all-time peak in intra-day trade at 40,308.90; while the 50-share Nifty rose to 12,103.05 during the session to mark its all-time high.

The BSE gauge swung 598 points during the session and finally settled 553.42 points, or 1.39 per cent, higher at 40,267.62. The broader NSE benchmark surged 165.75 points, or 1.39 per cent, to settle at 12,088.55.