Sensex hits fresh peak; Nifty closes above 11,300 for the first time

Sensex climbed 157.55 points to scale new peak of 37,494.40.

Sensex hits fresh peak; Nifty closes above 11,300 for the first time

New Delhi: Markets closed on fresh peaks on Monday riding on the back of healthy quarterly earnings.

Sensex climbed 157.55 points to scale new peak of 37,494.40. The NSE Nifty rose 41.20 points to close above 11,300-level for the first time.

All eyes will be on Reserve Bank of India's Monetary Policy Committee (MPC) meet to decide on its policy rates.

The Reserve Bank is likely to maintain status quo on the key interest rate on Wednesday notwithstanding elevated oil prices and government's announcement to steeply hike minimum support price for kharif crops, experts said.

Reliance Industries rose by 1.78 percent to quote at 1,149.70 after the company friday reported its highest-ever quarterly net profit as bumper earnings from the retail business, improved profitability of telecom arm and near doubling of earnings from petrochemical business offset lower margins from oil refining business.

Bharti Airtel, ICICI Bank, SBIN, Axis Bank, M&M, Vedanta, HUL, ONGC, Powergrid, Sun pharma and Maruti, rising by upto 5.13 percent.

According to provisional exchange data, foreign institutional investors (FIIs) put in a net of Rs 738.05 crore and domestic institutional investors (DIIs) bought shares worth a net of Rs 406.12 crore on Friday.

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