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The benchmark S&P BSE Sensex and Nifty Bank extended morning gains to settle at record closing high on Monday as banking stocks gained after the Reserve Bank of India (RBI) asked banks to start banktruptcy process against 12 large loan defaulters, raising hopes that reduction of bad debt will start to quicken.
The S&P BSE Sensex gained 255 points to hit its fresh high of 31,311. In intraday trade, the 30-share Sensex gained as much as 305 points to 31362.15.
The broader Nifty50 ended at 9,657, up 69 points. The 50-share index hit its intraday high of 9,673.
The broader
