Market benchmark Nifty rallied to a record close of 9,359.90 while the BSE Sensex reclaimed the 30,000-mark on Thursday as investors cheered reform steps in the banking and infra space. Banking stocks surged up to 9 per cent following the Government’s decision to bring an ordinance to empower the Reserve Bank to effectively deal with bad loans, brokers said.
The Cabinet on Wednesday also announced a policy aimed at boosting steel output and consumption. Sentiment also remained upbeat following strong earnings by the country's biggest private lender ICICI Bank and the US Federal Reserve's decision to keep its policy rate unchanged.
The 50-share NSE Nifty spurted 47.95 points, or 0.51 per cent to end at a lifetime high of 9,359.90. It shuttled between 9,365.65 and 9,323.25 during the session. Its previous record closing of 9,351.85 was registered on April 26.