Sensex, Nifty hit fresh record high

New Delhi: Stock markets posted third consecutive gains in opening trade on Wednesday. Minutes into trading the BSE Sensex hit fresh record high, crossing 39,200 level while the NSE Nifty hit an all time high by breahing earlier level of 11,760.

The BSE Sensex jumped 195.75 points or 0.50 percent to 39,252.40 in early trade. The NSE Nifty came off record high but was still trading 43.10 points or 0.37  percent higher at 11,756.30.

Major gainers in the Sensex pack were Tata Motors, HDFC, IndusInd Bank, Yes Bank, Bharti Airtel, Kotak Bank, Tata Steel, Powergrid, M&M, Maruti, Bajaj Finance and HCL Tech, rising by upto 2.59 percent. Bucking the trend L&T, CIL, HUL and Infosys were trading in red, falling by upto 0.76 percent.

Meanwhile, all eyes are set on the RBI that will unveil its first bi-monthly monetary policy decision of this new fiscal on Thursday. Investors are hoping that the central bank will go for a rate cut in its monetary policy announcement.

Asian shares rose to seven-month highs on Wednesday. MSCI`s broadest index of Asia-Pacific shares outside Japan was up 0.5 percent, a Reuters report said.

With Agency Inputs