Nifty hits record high above 11,350-level, up 37 points

The NSE Nifty today ended up by 36.95 points to 11,356.50, a record closing level for the fourth consecutive session, backed by buying in realty, energy, IT and pharma stocks ahead of the RBI's rate decision tomorrow.

Overseas, European stocks struggled for direction following earnings updates from major companies, while Asian markets ended mixed as the Bank of Japan tweaked its monetary policy.

The 50-share NSE Nifty opened lower at 11,311.05 and hit an intraday low of 11,267.75.

But it managed to recover morning losses in the last hour of the trade and touched an all-time high of 11,366. Finally, the index ended 36.95 points higher to finish at 11,356.50. Nifty witnessed an intraday movement of about 98.25 points.

Sector-wise, realty rose by 1.68 per cent followed by energy 1.60 per cent, IT 1.16 per cent, pharma 0.70 per cent, FMCG 0.55 per cent, auto 0.45 per cent, metal 0.45 per cent and infra 0.22 per cent. While, PSU bank fell by 1.25 per cent, financial service 0.65 per cent, private bank 0.34 per cent, bank 0.28 per cent and media 0.26 per cent.

Major index gainers were Tech Mahindra, Dr Reddys, Hindustan Unilever, Adaniports, Hero MotoCorp, Titan and Hcl Technologies.

Index losers included Axis Bank, Indiabulls Housing Finance, Eicher Motors, HDFC, Tata Motors, BPCL and Hindustan Petroleum Corporation.

The market breadth, indicating the overall health of the market was in favour of gainers. On the NSE, 1,007 shares advanced and 776 declined, while 83 remained unchanged.

Total securities that hit their price bands were 253.

Turnover in the cash segment rose to Rs 34,992.24 crores from Rs 33,654.43 crores as on Monday.

A total of 17,038.49 lakh shares changed hands in 1,19,98,544 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,51,28,449.08 crore.